State of New Jersey Common Pension Fund D Increases Position in HCP, Inc. (NYSE:HCP)

State of New Jersey Common Pension Fund D lifted its holdings in HCP, Inc. (NYSE:HCP) by 7.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 654,000 shares of the real estate investment trust’s stock after buying an additional 47,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in HCP were worth $20,916,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Resolution Capital Ltd raised its holdings in HCP by 18.9% during the 2nd quarter. Resolution Capital Ltd now owns 8,757,892 shares of the real estate investment trust’s stock valued at $280,077,000 after acquiring an additional 1,393,502 shares during the period. Private Vista LLC increased its holdings in shares of HCP by 44.4% in the second quarter. Private Vista LLC now owns 14,835 shares of the real estate investment trust’s stock worth $475,000 after purchasing an additional 4,560 shares during the period. FDx Advisors Inc. increased its holdings in shares of HCP by 32.6% in the second quarter. FDx Advisors Inc. now owns 28,957 shares of the real estate investment trust’s stock worth $926,000 after purchasing an additional 7,112 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of HCP by 19.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 742,338 shares of the real estate investment trust’s stock worth $23,740,000 after purchasing an additional 119,972 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of HCP by 49.7% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,326 shares of the real estate investment trust’s stock worth $202,000 after purchasing an additional 2,100 shares during the period. Hedge funds and other institutional investors own 95.70% of the company’s stock.

Several research analysts have recently weighed in on HCP shares. TheStreet raised shares of Rent-A-Center from a “c” rating to a “b-” rating in a report on Tuesday, May 7th. Raymond James started coverage on shares of Adverum Biotechnologies in a report on Thursday, June 13th. They issued a “market perform” rating on the stock. Finally, KeyCorp cut shares of GTT Communications from an “overweight” rating to a “sector weight” rating in a report on Monday, July 1st. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $30.70.

Shares of HCP stock traded up $0.21 during trading on Tuesday, hitting $32.29. The stock had a trading volume of 131,415 shares, compared to its average volume of 1,970,071. The stock has a market capitalization of $15.36 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 6.97 and a beta of 0.31. HCP, Inc. has a 12 month low of $24.47 and a 12 month high of $33.58. The company’s 50-day moving average price is $32.26. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.80 and a current ratio of 0.80.

HCP (NYSE:HCP) last released its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01. The business had revenue of $436.15 million for the quarter, compared to analysts’ expectations of $442.20 million. HCP had a return on equity of 18.05% and a net margin of 59.96%. The firm’s revenue was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 earnings per share. On average, sell-side analysts expect that HCP, Inc. will post 1.74 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, August 5th will be paid a $0.37 dividend. The ex-dividend date is Friday, August 2nd. This represents a $1.48 dividend on an annualized basis and a yield of 4.58%. HCP’s dividend payout ratio is presently 81.32%.

In related news, Director Christine Garvey sold 3,405 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $29.80, for a total value of $101,469.00. Following the transaction, the director now owns 5,348 shares of the company’s stock, valued at $159,370.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by corporate insiders.

HCP 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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