Oppenheimer Asset Management Inc. grew its holdings in shares of HCP, Inc. (NYSE:HCP) by 1.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 304,503 shares of the real estate investment trust’s stock after purchasing an additional 4,356 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.06% of HCP worth $8,015,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Mount Yale Investment Advisors LLC bought a new position in shares of HCP during the 2nd quarter worth $104,000. Piedmont Investment Advisors LLC bought a new position in shares of HCP during the 2nd quarter worth $142,000. Peoples Financial Services CORP. grew its stake in shares of HCP by 87.7% during the 3rd quarter. Peoples Financial Services CORP. now owns 6,100 shares of the real estate investment trust’s stock worth $161,000 after acquiring an additional 2,850 shares during the period. Reliance Trust Co. of Delaware bought a new position in shares of HCP during the 2nd quarter worth $211,000. Finally, Lourd Capital LLC bought a new position in shares of HCP during the 3rd quarter worth $211,000. 88.05% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE HCP opened at $26.49 on Friday. HCP, Inc. has a 52 week low of $21.48 and a 52 week high of $27.62. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $12.70 billion, a price-to-earnings ratio of 13.58, a P/E/G ratio of 6.79 and a beta of 0.28.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Monday, November 5th will be paid a $0.37 dividend. The ex-dividend date is Friday, November 2nd. This represents a $1.48 annualized dividend and a yield of 5.59%. HCP’s dividend payout ratio is currently 75.90%.
HCP has been the subject of several research reports. JPMorgan Chase & Co. downgraded HCP from an “overweight” rating to a “neutral” rating in a research note on Friday, October 5th. Cantor Fitzgerald upgraded HCP from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $28.00 to $29.00 in a research note on Thursday, September 27th. Stifel Nicolaus set a $28.00 price target on HCP and gave the stock a “buy” rating in a research note on Friday, August 3rd. Capital One Financial initiated coverage on HCP in a research note on Tuesday, July 24th. They set an “equal weight” rating and a $27.50 price target for the company. Finally, Bank of America increased their price target on HCP from $27.50 to $28.00 and gave the stock a “buy” rating in a research note on Monday, September 17th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. HCP presently has an average rating of “Hold” and a consensus price target of $26.54.
HCP, Inc is a fully integrated real estate investment trust (REIT) that invests in real estate serving the healthcare industry in the United States. HCP owns a large-scale portfolio primarily diversified across life science, medical office and senior housing. Recognized as a global leader in sustainability, HCP has been a publicly-traded company since 1985 and was the first healthcare REIT selected to the S&P 500 index.
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