Smith Salley & Associates cut its position in HCP, Inc. (NYSE:HCP) by 6.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,003 shares of the real estate investment trust’s stock after selling 7,368 shares during the quarter. Smith Salley & Associates’ holdings in HCP were worth $2,948,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of HCP. Cambridge Investment Research Advisors Inc. raised its stake in shares of HCP by 2.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 89,768 shares of the real estate investment trust’s stock valued at $2,363,000 after purchasing an additional 1,883 shares during the period. Stephens Inc. AR raised its stake in shares of HCP by 5.1% during the 2nd quarter. Stephens Inc. AR now owns 40,944 shares of the real estate investment trust’s stock valued at $1,057,000 after purchasing an additional 1,993 shares during the period. Advisor Partners LLC raised its stake in shares of HCP by 20.7% during the 2nd quarter. Advisor Partners LLC now owns 11,864 shares of the real estate investment trust’s stock valued at $306,000 after purchasing an additional 2,038 shares during the period. Amalgamated Bank raised its stake in shares of HCP by 3.6% during the 2nd quarter. Amalgamated Bank now owns 60,479 shares of the real estate investment trust’s stock valued at $1,562,000 after purchasing an additional 2,084 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of HCP by 0.3% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 725,114 shares of the real estate investment trust’s stock valued at $19,085,000 after purchasing an additional 2,094 shares during the period. Hedge funds and other institutional investors own 87.64% of the company’s stock.

HCP stock opened at $28.82 on Friday. HCP, Inc. has a 52 week low of $21.48 and a 52 week high of $28.92. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a market cap of $13.50 billion, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 7.21 and a beta of 0.16.

HCP (NYSE:HCP) last posted its earnings results on Wednesday, October 31st. The real estate investment trust reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.10. HCP had a return on equity of 3.06% and a net margin of 9.16%. The business had revenue of $456.00 million during the quarter, compared to analysts’ expectations of $456.59 million. During the same period in the previous year, the business earned $0.48 earnings per share. The firm’s revenue was up .4% on a year-over-year basis. As a group, equities research analysts predict that HCP, Inc. will post 1.82 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Monday, November 5th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 5.14%. The ex-dividend date of this dividend is Friday, November 2nd. HCP’s payout ratio is 75.90%.

A number of analysts recently issued reports on HCP shares. JPMorgan Chase & Co. lowered HCP from an “overweight” rating to a “neutral” rating in a research note on Friday, October 5th. Cantor Fitzgerald upgraded HCP from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $28.00 to $29.00 in a research note on Thursday, September 27th. Stifel Nicolaus set a $28.00 price objective on HCP and gave the company a “buy” rating in a research note on Friday, August 3rd. Capital One Financial started coverage on HCP in a research note on Tuesday, July 24th. They set an “equal weight” rating and a $27.50 price objective on the stock. Finally, Bank of America boosted their price objective on HCP from $27.50 to $28.00 and gave the company a “buy” rating in a research note on Monday, September 17th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $26.75.

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About HCP

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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