Concert Wealth Management Inc. boosted its position in shares of HCP Inc. (NYSE:HCP) by 16.3% during the second quarter, Holdings Channel reports. The institutional investor owned 73,030 shares of the real estate investment trust’s stock after buying an additional 10,245 shares during the period. Concert Wealth Management Inc.’s holdings in HCP were worth $2,595,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Iowa State Bank purchased a new position in shares of HCP during the second quarter worth $145,000. Advisory Services Network LLC increased its stake in shares of HCP by 29.2% in the second quarter. Advisory Services Network LLC now owns 4,252 shares of the real estate investment trust’s stock worth $150,000 after buying an additional 961 shares during the last quarter. Checchi Capital Advisers LLC increased its stake in shares of HCP by 3.9% in the second quarter. Checchi Capital Advisers LLC now owns 5,288 shares of the real estate investment trust’s stock worth $187,000 after buying an additional 200 shares during the last quarter. Benin Management CORP bought a new stake in shares of HCP during the second quarter worth approximately $203,000. Finally, Capital City Trust Co. FL bought a new stake in shares of HCP during the second quarter worth approximately $204,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.
HCP Inc. (NYSE:HCP) traded down 0.042% during midday trading on Friday, hitting $35.935. The company had a trading volume of 1,829,513 shares. The stock’s market cap is $16.80 billion. The stock’s 50-day moving average price is $38.54 and its 200-day moving average price is $36.04. HCP Inc. has a 52-week low of $25.11 and a 52-week high of $40.43.
HCP (NYSE:HCP) last released its earnings results on Tuesday, August 9th. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.04. HCP had a negative return on equity of 0.67% and a negative net margin of 2.52%. The company had revenue of $662.20 million for the quarter, compared to analysts’ expectations of $631.25 million. During the same quarter in the previous year, the firm posted $0.79 EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. On average, equities research analysts expect that HCP Inc. will post $2.82 EPS for the current fiscal year.
HCP has been the topic of a number of recent research reports. BTIG Research initiated coverage on HCP in a research note on Thursday, August 25th. They issued a “neutral” rating on the stock. Zacks Investment Research downgraded HCP from a “buy” rating to a “hold” rating in a research note on Monday, September 26th. Wells Fargo & Co. restated a “hold” rating on shares of HCP in a research note on Sunday, September 4th. Mizuho restated a “hold” rating and issued a $32.00 target price on shares of HCP in a research note on Tuesday, July 12th. Finally, Bank of America Corp. upgraded HCP from an “underperform” rating to a “neutral” rating and set a $38.50 target price on the stock in a research note on Tuesday. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company’s stock. HCP currently has an average rating of “Hold” and an average target price of $34.61.
In other HCP news, EVP Jonathan M. Bergschneider sold 7,651 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $39.78, for a total transaction of $304,356.78. Following the transaction, the executive vice president now owns 54,095 shares in the company, valued at approximately $2,151,899.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas D. Kirby sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $40.24, for a total value of $120,720.00. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.
HCP Company Profile
HCP, Inc (HCP) is a self-administered real estate investment trust (REIT). The Company invests in real estate serving the healthcare industry in the United States. Its portfolio consists of investments in various healthcare segments: senior housing, post-acute/skilled nursing, life science, medical office and hospital.