Fiduciary Trust Co. Lowers Stake in HCP, Inc. (NYSE:HCP)

Fiduciary Trust Co. reduced its position in HCP, Inc. (NYSE:HCP) by 8.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 90,897 shares of the real estate investment trust’s stock after selling 8,109 shares during the period. Fiduciary Trust Co.’s holdings in HCP were worth $2,843,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Founders Capital Management purchased a new stake in shares of HCP during the first quarter worth about $106,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of HCP during the fourth quarter worth about $114,000. Advisory Services Network LLC purchased a new stake in shares of HCP during the first quarter worth about $114,000. Nwam LLC purchased a new stake in shares of HCP during the first quarter worth about $200,000. Finally, Soros Fund Management LLC purchased a new stake in shares of HCP during the first quarter worth about $200,000. 88.27% of the stock is owned by hedge funds and other institutional investors.

HCP, Inc. (HCP) opened at 32.01 on Tuesday. HCP, Inc. has a 52-week low of $27.61 and a 52-week high of $40.43. The firm’s 50-day moving average is $31.89 and its 200 day moving average is $31.03. The company has a market cap of $15.00 billion, a price-to-earnings ratio of 15.43 and a beta of 0.37.

HCP (NYSE:HCP) last announced its quarterly earnings data on Tuesday, May 2nd. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. HCP had a net margin of 41.38% and a return on equity of 12.39%. The firm had revenue of $492.16 million during the quarter, compared to analyst estimates of $514.82 million. During the same quarter in the prior year, the firm posted $0.69 earnings per share. HCP’s quarterly revenue was down 5.4% on a year-over-year basis. On average, equities research analysts predict that HCP, Inc. will post $1.28 EPS for the current fiscal year.

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A number of analysts have recently issued reports on HCP shares. Bank of America Corporation raised shares of HCP from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $33.25 to $35.00 in a research note on Monday, April 3rd. BidaskClub raised shares of HCP from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Morgan Stanley raised shares of HCP from an “underweight” rating to an “equal weight” rating and set a $31.00 price objective for the company in a research note on Monday, March 20th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $31.00 target price on shares of HCP in a research note on Wednesday, July 5th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $32.00 target price on shares of HCP in a research note on Friday, May 12th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $33.55.

In related news, insider Thomas Klaritch sold 2,651 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $31.53, for a total value of $83,586.03. Following the completion of the sale, the insider now owns 176,830 shares of the company’s stock, valued at $5,575,449.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.22% of the company’s stock.

About HCP

HCP, Inc is a self-administered real estate investment trust. The Company invests in real estate serving the healthcare industry in the United States. The Company’s segments include senior housing triple-net (SH NNN), senior housing operating portfolio (SHOP), life science and medical office. Its senior housing facilities include independent living facilities, assisted living facilities, memory care facilities, care homes, and continuing care retirement communities.

Institutional Ownership by Quarter for HCP (NYSE:HCP)

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