Resolution Capital Ltd increased its holdings in shares of HCP, Inc. (NYSE:HCP) by 16.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,364,390 shares of the real estate investment trust’s stock after purchasing an additional 1,021,965 shares during the quarter. HCP makes up approximately 7.5% of Resolution Capital Ltd’s portfolio, making the stock its 3rd biggest position. Resolution Capital Ltd owned approximately 1.54% of HCP worth $230,505,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of HCP. Cohen & Steers Inc. lifted its stake in HCP by 317.6% in the third quarter. Cohen & Steers Inc. now owns 16,962,610 shares of the real estate investment trust’s stock valued at $446,456,000 after buying an additional 12,900,457 shares during the last quarter. Deutsche Bank AG lifted its stake in HCP by 1,073.7% in the fourth quarter. Deutsche Bank AG now owns 10,704,554 shares of the real estate investment trust’s stock valued at $298,971,000 after buying an additional 9,792,507 shares during the last quarter. Zimmer Partners LP purchased a new stake in HCP in the fourth quarter valued at approximately $230,959,000. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in HCP by 73.8% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,036,864 shares of the real estate investment trust’s stock valued at $392,050,000 after buying an additional 5,960,734 shares during the last quarter. Finally, Norges Bank purchased a new stake in HCP in the fourth quarter valued at approximately $128,473,000. Hedge funds and other institutional investors own 95.64% of the company’s stock.
Shares of HCP stock traded down $0.55 during trading hours on Wednesday, hitting $29.28. 87,635 shares of the company were exchanged, compared to its average volume of 3,154,448. HCP, Inc. has a 1 year low of $21.80 and a 1 year high of $32.23. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market capitalization of $13.98 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 7.68 and a beta of 0.46.
HCP (NYSE:HCP) last released its quarterly earnings results on Wednesday, February 13th. The real estate investment trust reported $1.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $1.30. HCP had a return on equity of 18.40% and a net margin of 57.41%. The business had revenue of $441.92 million during the quarter, compared to analysts’ expectations of $445.81 million. During the same quarter in the prior year, the business earned $0.48 earnings per share. The company’s quarterly revenue was down .3% compared to the same quarter last year. As a group, equities research analysts anticipate that HCP, Inc. will post 1.74 EPS for the current year.
A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded HCP from a “sell” rating to a “hold” rating in a research note on Thursday, March 14th. Morgan Stanley set a $32.00 price objective on HCP and gave the company a “hold” rating in a research note on Thursday, March 28th. BMO Capital Markets reiterated a “buy” rating and issued a $33.00 price objective on shares of HCP in a research note on Wednesday, February 13th. TheStreet upgraded HCP from a “c” rating to a “b-” rating in a research note on Wednesday, February 13th. Finally, Robert W. Baird upgraded HCP from a “neutral” rating to an “outperform” rating in a research note on Monday, January 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $28.95.
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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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