HCP, Inc. (NYSE:HCP) Stake Lowered by Macquarie Group Ltd.
Macquarie Group Ltd. lowered its stake in HCP, Inc. (NYSE:HCP) by 4.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 656,654 shares of the real estate investment trust’s stock after selling 28,878 shares during the period. Macquarie Group Ltd. owned 0.14% of HCP worth $16,954,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Security Capital Research & Management Inc. grew its stake in shares of HCP by 20.2% during the 2nd quarter. Security Capital Research & Management Inc. now owns 12,680,529 shares of the real estate investment trust’s stock valued at $327,411,000 after acquiring an additional 2,129,250 shares during the period. Northern Trust Corp lifted its position in HCP by 3.9% in the first quarter. Northern Trust Corp now owns 7,885,612 shares of the real estate investment trust’s stock worth $183,182,000 after purchasing an additional 294,020 shares during the period. Brookfield Asset Management Inc. increased its holdings in shares of HCP by 32.3% in the first quarter. Brookfield Asset Management Inc. now owns 7,641,262 shares of the real estate investment trust’s stock valued at $177,507,000 after buying an additional 1,866,537 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in HCP by 1.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,178,265 shares of the real estate investment trust’s stock valued at $185,341,000 after purchasing an additional 100,296 shares during the period. Finally, Resolution Capital Ltd raised its stake in HCP by 118.1% during the 2nd quarter. Resolution Capital Ltd now owns 6,481,980 shares of the real estate investment trust’s stock valued at $167,365,000 after purchasing an additional 3,509,889 shares during the period. Hedge funds and other institutional investors own 88.30% of the company’s stock.
HCP has been the subject of a number of recent analyst reports. Mizuho restated a “buy” rating and set a $29.00 price target on shares of HCP in a report on Monday, August 13th. Cantor Fitzgerald raised shares of HCP from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $28.00 to $29.00 in a research note on Thursday, September 27th. Capital One Financial restated an “equal weight” rating on shares of HCP in a report on Monday, July 23rd. JPMorgan Chase & Co. downgraded shares of HCP from an “overweight” rating to a “neutral” rating in a research report on Friday, October 5th. Finally, Robert W. Baird boosted their price objective on shares of HCP from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, August 9th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. HCP presently has an average rating of “Hold” and an average price target of $26.54.
HCP (NYSE:HCP) last released its earnings results on Thursday, August 2nd. The real estate investment trust reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.27). The firm had revenue of $469.60 million for the quarter, compared to analyst estimates of $463.94 million. HCP had a return on equity of 1.12% and a net margin of 3.39%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.48 EPS. On average, sell-side analysts predict that HCP, Inc. will post 1.82 earnings per share for the current fiscal year.
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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