Pzena Investment Management LLC Decreases Position in HCP, Inc. (HCP)

Pzena Investment Management LLC trimmed its holdings in shares of HCP, Inc. (NYSE:HCP) by 10.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,570 shares of the real estate investment trust’s stock after selling 3,021 shares during the period. Pzena Investment Management LLC’s holdings in HCP were worth $699,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. FIL Ltd boosted its position in HCP by 3.8% in the 3rd quarter. FIL Ltd now owns 565,687 shares of the real estate investment trust’s stock valued at $14,889,000 after buying an additional 20,482 shares during the last quarter. American International Group Inc. boosted its position in HCP by 4.8% in the 3rd quarter. American International Group Inc. now owns 236,738 shares of the real estate investment trust’s stock valued at $6,231,000 after buying an additional 10,857 shares during the last quarter. Janus Henderson Group PLC boosted its position in HCP by 16.0% in the 3rd quarter. Janus Henderson Group PLC now owns 1,008,528 shares of the real estate investment trust’s stock valued at $26,548,000 after buying an additional 139,214 shares during the last quarter. AXA boosted its position in HCP by 8.4% in the 3rd quarter. AXA now owns 37,813 shares of the real estate investment trust’s stock valued at $995,000 after buying an additional 2,936 shares during the last quarter. Finally, Swiss National Bank boosted its position in HCP by 3.7% in the 3rd quarter. Swiss National Bank now owns 1,610,021 shares of the real estate investment trust’s stock valued at $42,376,000 after buying an additional 57,900 shares during the last quarter. 89.32% of the stock is owned by hedge funds and other institutional investors.

Shares of HCP stock opened at $28.76 on Friday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 1.21. HCP, Inc. has a one year low of $21.48 and a one year high of $29.32. The stock has a market cap of $13.56 billion, a PE ratio of 14.75, a P/E/G ratio of 7.27 and a beta of 0.16.

HCP (NYSE:HCP) last issued its quarterly earnings results on Wednesday, October 31st. The real estate investment trust reported $0.21 EPS for the quarter, topping the consensus estimate of $0.11 by $0.10. HCP had a net margin of 9.16% and a return on equity of 3.06%. The business had revenue of $456.00 million for the quarter, compared to analysts’ expectations of $456.59 million. During the same quarter last year, the company posted $0.48 earnings per share. The company’s quarterly revenue was up .4% compared to the same quarter last year. As a group, analysts anticipate that HCP, Inc. will post 1.82 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 20th. Stockholders of record on Monday, November 5th were given a dividend of $0.37 per share. The ex-dividend date was Friday, November 2nd. This represents a $1.48 annualized dividend and a dividend yield of 5.15%. HCP’s payout ratio is 75.90%.

HCP has been the subject of a number of analyst reports. Stifel Nicolaus set a $28.00 price objective on shares of HCP and gave the company a “buy” rating in a research report on Friday, August 3rd. Mizuho reissued a “buy” rating and issued a $29.00 price objective on shares of HCP in a research report on Monday, August 13th. Bank of America upped their price objective on shares of HCP from $27.50 to $28.00 and gave the company a “buy” rating in a research report on Monday, September 17th. ValuEngine raised shares of HCP from a “hold” rating to a “buy” rating in a research report on Monday, November 12th. Finally, Morgan Stanley upped their price objective on shares of HCP from $23.50 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, August 16th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. HCP currently has an average rating of “Hold” and an average price target of $26.75.

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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.

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Institutional Ownership by Quarter for HCP (NYSE:HCP)

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