New York State Teachers Retirement System cut its position in HCP, Inc. (NYSE:HCP) by 0.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 788,105 shares of the real estate investment trust’s stock after selling 763 shares during the period. New York State Teachers Retirement System owned approximately 0.17% of HCP worth $24,652,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Founders Capital Management bought a new stake in HCP during the first quarter worth about $106,000. Advisory Services Network LLC purchased a new position in HCP during the first quarter worth approximately $114,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in HCP during the fourth quarter worth approximately $114,000. Archford Capital Strategies LLC raised its position in HCP by 9.3% in the fourth quarter. Archford Capital Strategies LLC now owns 6,243 shares of the real estate investment trust’s stock worth $185,000 after buying an additional 533 shares in the last quarter. Finally, Nwam LLC purchased a new position in HCP during the first quarter worth approximately $200,000. 88.27% of the stock is owned by institutional investors and hedge funds.
HCP, Inc. (NYSE HCP) traded up 0.16% during mid-day trading on Tuesday, reaching $32.06. The company had a trading volume of 2,249,349 shares. The stock has a market capitalization of $15.02 billion, a P/E ratio of 15.46 and a beta of 0.37. HCP, Inc. has a 12-month low of $27.61 and a 12-month high of $40.43. The stock has a 50 day moving average price of $31.96 and a 200-day moving average price of $31.24.
HCP (NYSE:HCP) last posted its earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.03. HCP had a return on equity of 12.39% and a net margin of 41.38%. The business had revenue of $492.16 million during the quarter, compared to analysts’ expectations of $514.82 million. During the same period in the previous year, the business earned $0.69 earnings per share. The firm’s revenue was down 5.4% on a year-over-year basis. Equities analysts anticipate that HCP, Inc. will post $1.28 EPS for the current fiscal year.
HCP has been the topic of several research analyst reports. Evercore ISI upgraded shares of HCP from an “underperform” rating to an “in-line” rating in a research note on Monday, March 27th. They noted that the move was a valuation call. BidaskClub upgraded shares of HCP from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Bank of America Corporation upgraded shares of HCP from a “neutral” rating to a “buy” rating and boosted their target price for the company from $33.25 to $35.00 in a research note on Monday, April 3rd. Morgan Stanley upgraded shares of HCP from an “underweight” rating to an “equal weight” rating and set a $31.00 target price on the stock in a research note on Monday, March 20th. Finally, Mizuho downgraded shares of HCP from a “buy” rating to a “neutral” rating and reduced their target price for the company from $34.00 to $32.00 in a research note on Tuesday, April 11th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $33.55.
In other news, insider Thomas Klaritch sold 2,651 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $31.53, for a total value of $83,586.03. Following the completion of the transaction, the insider now directly owns 176,830 shares in the company, valued at approximately $5,575,449.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is currently owned by corporate insiders.
HCP, Inc is a self-administered real estate investment trust. The Company invests in real estate serving the healthcare industry in the United States. The Company’s segments include senior housing triple-net (SH NNN), senior housing operating portfolio (SHOP), life science and medical office. Its senior housing facilities include independent living facilities, assisted living facilities, memory care facilities, care homes, and continuing care retirement communities.
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