TD Asset Management Inc. cut its stake in shares of HCP, Inc. (NYSE:HCP) by 2.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 139,781 shares of the real estate investment trust’s stock after selling 2,988 shares during the quarter. TD Asset Management Inc.’s holdings in HCP were worth $4,470,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Wetherby Asset Management Inc. grew its stake in shares of HCP by 3.9% during the 2nd quarter. Wetherby Asset Management Inc. now owns 8,918 shares of the real estate investment trust’s stock valued at $285,000 after acquiring an additional 331 shares during the period. 6 Meridian grew its stake in shares of HCP by 2.2% during the 2nd quarter. 6 Meridian now owns 16,338 shares of the real estate investment trust’s stock valued at $522,000 after acquiring an additional 352 shares during the period. Cornerstone Advisors Inc. grew its stake in shares of HCP by 23.1% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,881 shares of the real estate investment trust’s stock valued at $60,000 after acquiring an additional 353 shares during the period. Duncker Streett & Co. Inc. grew its stake in shares of HCP by 1.8% during the 1st quarter. Duncker Streett & Co. Inc. now owns 22,690 shares of the real estate investment trust’s stock valued at $710,000 after acquiring an additional 402 shares during the period. Finally, Crossmark Global Holdings Inc. grew its stake in shares of HCP by 1.0% during the 1st quarter. Crossmark Global Holdings Inc. now owns 45,925 shares of the real estate investment trust’s stock valued at $1,437,000 after acquiring an additional 450 shares during the period. Institutional investors own 95.47% of the company’s stock.

HCP stock traded up $0.16 during midday trading on Wednesday, hitting $34.15. The company’s stock had a trading volume of 86,681 shares, compared to its average volume of 2,691,614. HCP, Inc. has a 12 month low of $24.47 and a 12 month high of $34.75. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $16.69 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 6.85 and a beta of 0.31. The company has a 50 day moving average of $32.87 and a two-hundred day moving average of $31.54.

HCP (NYSE:HCP) last posted its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.46). HCP had a return on equity of 15.54% and a net margin of 53.57%. The business had revenue of $489.15 million during the quarter, compared to the consensus estimate of $444.67 million. During the same quarter in the previous year, the company earned $0.45 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, analysts anticipate that HCP, Inc. will post 1.75 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, August 5th were given a dividend of $0.37 per share. The ex-dividend date was Friday, August 2nd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.33%. HCP’s dividend payout ratio is currently 81.32%.

Several research analysts have weighed in on HCP shares. Raymond James upgraded HCP from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a research note on Thursday, June 13th. TheStreet upgraded HCP from a “c+” rating to a “b-” rating in a research note on Friday, August 2nd. KeyCorp upped their price target on HCP from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, July 1st. Finally, Stifel Nicolaus upped their price target on HCP from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. HCP has a consensus rating of “Buy” and an average price target of $32.25.

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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