Victory Capital Management Inc. increased its holdings in shares of HCP, Inc. (NYSE:HCP) by 11.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 154,477 shares of the real estate investment trust’s stock after acquiring an additional 15,769 shares during the period. Victory Capital Management Inc.’s holdings in HCP were worth $4,940,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. grew its stake in HCP by 6.1% during the second quarter. UBS Asset Management Americas Inc. now owns 3,489,148 shares of the real estate investment trust’s stock worth $111,583,000 after purchasing an additional 199,538 shares during the period. CSat Investment Advisory L.P. grew its stake in HCP by 77.6% during the second quarter. CSat Investment Advisory L.P. now owns 1,165 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 509 shares during the period. Point72 Asset Management L.P. acquired a new stake in HCP during the second quarter worth approximately $173,000. California State Teachers Retirement System grew its stake in HCP by 9.5% during the second quarter. California State Teachers Retirement System now owns 862,507 shares of the real estate investment trust’s stock worth $27,583,000 after purchasing an additional 74,751 shares during the period. Finally, Morgan Stanley grew its stake in HCP by 56.7% during the second quarter. Morgan Stanley now owns 2,708,782 shares of the real estate investment trust’s stock worth $86,627,000 after purchasing an additional 979,916 shares during the period. 95.43% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have commented on the company. Barclays raised their price objective on HCP from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Wednesday. Stifel Nicolaus raised their price objective on HCP from $34.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. They noted that the move was a valuation call. Morgan Stanley raised their price objective on HCP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 17th. Raymond James raised HCP from a “market perform” rating to an “outperform” rating and set a $35.00 price objective for the company in a research note on Thursday, June 13th. Finally, ValuEngine cut HCP from a “buy” rating to a “hold” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $35.44.
HCP (NYSE:HCP) last announced its earnings results on Wednesday, July 31st. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.46). The company had revenue of $489.15 million for the quarter, compared to analysts’ expectations of $444.67 million. HCP had a net margin of 53.57% and a return on equity of 15.54%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 EPS. As a group, analysts expect that HCP, Inc. will post 1.75 earnings per share for the current year.
In related news, COO Thomas Klaritch sold 35,014 shares of HCP stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $36.02, for a total transaction of $1,261,204.28. Following the transaction, the chief operating officer now owns 230,529 shares of the company’s stock, valued at $8,303,654.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.13% of the stock is owned by insiders.
HCP Company Profile
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.
Further Reading: Support Level
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