LS Investment Advisors LLC decreased its holdings in shares of HCP, Inc. (NYSE:HCP) by 12.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 19,128 shares of the real estate investment trust’s stock after selling 2,792 shares during the quarter. LS Investment Advisors LLC’s holdings in HCP were worth $534,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in HCP. Renaissance Technologies LLC raised its stake in shares of HCP by 1.9% in the second quarter. Renaissance Technologies LLC now owns 137,300 shares of the real estate investment trust’s stock valued at $3,545,000 after acquiring an additional 2,500 shares during the last quarter. United Services Automobile Association raised its stake in shares of HCP by 10.6% in the second quarter. United Services Automobile Association now owns 191,133 shares of the real estate investment trust’s stock valued at $4,935,000 after acquiring an additional 18,290 shares during the last quarter. Lourd Capital LLC bought a new position in shares of HCP in the third quarter valued at approximately $211,000. Bank of Montreal Can raised its stake in shares of HCP by 16.3% in the third quarter. Bank of Montreal Can now owns 397,120 shares of the real estate investment trust’s stock valued at $10,453,000 after acquiring an additional 55,692 shares during the last quarter. Finally, First Hawaiian Bank bought a new position in shares of HCP in the third quarter valued at approximately $215,000. Hedge funds and other institutional investors own 88.78% of the company’s stock.
Shares of HCP stock opened at $31.24 on Monday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.48 and a quick ratio of 0.48. The company has a market capitalization of $14.85 billion, a P/E ratio of 16.02, a P/E/G ratio of 13.87 and a beta of 0.46. HCP, Inc. has a fifty-two week low of $21.48 and a fifty-two week high of $31.65.
A number of research analysts have recently issued reports on the stock. ValuEngine upgraded shares of HCP from a “hold” rating to a “buy” rating in a research note on Monday, November 12th. BMO Capital Markets reiterated a “hold” rating and issued a $27.00 target price on shares of HCP in a research note on Wednesday, October 31st. Cantor Fitzgerald lifted their target price on shares of HCP from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, November 1st. Scotiabank assumed coverage on shares of HCP in a research note on Monday, December 10th. They issued an “outperform” rating and a $32.00 target price for the company. Finally, Robert W. Baird upgraded shares of HCP from a “neutral” rating to an “outperform” rating in a research note on Monday, January 7th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $27.39.
In related news, COO Thomas Klaritch sold 82,532 shares of the firm’s stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $29.51, for a total value of $2,435,519.32. Following the completion of the sale, the chief operating officer now owns 256,280 shares of the company’s stock, valued at $7,562,822.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.
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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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