Whittier Trust Co. of Nevada Inc. trimmed its position in HCP, Inc. (NYSE:HCP) by 51.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 930 shares of the real estate investment trust’s stock after selling 1,000 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in HCP were worth $33,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in HCP by 11.3% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,177,081 shares of the real estate investment trust’s stock valued at $453,383,000 after purchasing an additional 1,441,636 shares during the period. Invesco Ltd. boosted its holdings in HCP by 6.6% in the 2nd quarter. Invesco Ltd. now owns 12,663,750 shares of the real estate investment trust’s stock valued at $404,988,000 after purchasing an additional 788,307 shares during the period. JPMorgan Chase & Co. boosted its holdings in HCP by 10.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,570,846 shares of the real estate investment trust’s stock valued at $399,752,000 after purchasing an additional 1,150,685 shares during the period. Resolution Capital Ltd boosted its holdings in HCP by 11.1% in the 3rd quarter. Resolution Capital Ltd now owns 9,733,993 shares of the real estate investment trust’s stock valued at $346,822,000 after purchasing an additional 976,101 shares during the period. Finally, Northern Trust Corp boosted its holdings in HCP by 9.6% in the 2nd quarter. Northern Trust Corp now owns 9,362,249 shares of the real estate investment trust’s stock valued at $299,405,000 after purchasing an additional 821,684 shares during the period. 95.65% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE HCP traded down $0.29 during mid-day trading on Thursday, reaching $37.64. 91,354 shares of the company were exchanged, compared to its average volume of 2,505,872. HCP, Inc. has a 52 week low of $26.11 and a 52 week high of $37.93. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $18.43 billion, a PE ratio of 20.66, a PEG ratio of 6.98 and a beta of 0.23. The company’s 50 day moving average price is $35.79 and its 200 day moving average price is $32.96.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Monday, November 4th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.93%. HCP’s dividend payout ratio is currently 81.32%.
Several brokerages have commented on HCP. Morgan Stanley raised their price target on shares of HCP from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Tuesday, September 17th. Argus raised shares of HCP from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. ValuEngine downgraded shares of HCP from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research raised shares of HCP from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Monday, October 14th. Finally, KeyCorp lifted their price objective on shares of HCP from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $36.10.
In other news, COO Thomas Klaritch sold 35,014 shares of HCP stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $36.02, for a total transaction of $1,261,204.28. Following the completion of the sale, the chief operating officer now directly owns 230,529 shares of the company’s stock, valued at approximately $8,303,654.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.
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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