HCP (HCP) : Sumitomo Mitsui Asset Management Company Ltd reduced its stake in HCP by 2.48% during the most recent quarter end. The investment management company now holds a total of 998,543 shares of HCP which is valued at $34.2 Million after selling 25,349 shares in HCP , the firm said in a disclosure report filed with the SEC on May 11, 2016.HCP makes up approximately 1.06% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio.
Other Hedge Funds, Including , Summit Securities Group sold out all of its stake in HCP during the most recent quarter. The investment firm sold 6,000 shares of HCP which is valued $205,200.Sentry Investment Management reduced its stake in HCP by selling 2,229 shares or 8.43% in the most recent quarter. The Hedge Fund company now holds 24,206 shares of HCP which is valued at $827,845. HCP makes up approx 0.04% of Sentry Investment Management’s portfolio.Signalpoint Asset Management boosted its stake in HCP in the latest quarter, The investment management firm added 875 additional shares and now holds a total of 7,501 shares of HCP which is valued at $253,759. HCP makes up approx 0.11% of Signalpoint Asset Management’s portfolio.Sumitomo Life Insurance Co reduced its stake in HCP by selling 1,223 shares or 2.94% in the most recent quarter. The Hedge Fund company now holds 40,436 shares of HCP which is valued at $1.4 Million. HCP makes up approx 0.18% of Sumitomo Life Insurance Co’s portfolio.
HCP opened for trading at $34.12 and hit $34.685 on the upside on Monday, eventually ending the session at $34.36, with a gain of 0.47% or 0.16 points. The heightened volatility saw the trading volume jump to 32,65,448 shares. Company has a market cap of $16,049 M.
On the company’s financial health, HCP reported $0.69 EPS for the quarter, based on the information available during the earnings call on May 9, 2016. Analyst had a consensus estimate of $0.69. The company had revenue of $640.80 million for the quarter, compared to analysts expectations of $613.89 million. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS.
Many Wall Street Analysts have commented on HCP. HCP was Upgraded by Jefferies to ” Hold” on May 10, 2016. UBS Downgraded HCP on Mar 16, 2016 to ” Neutral”, Price Target of the shares are set at $31.Shares were Reiterated by Barclays on Mar 10, 2016 to “Underweight” and Lowered the Price Target to $ 33 from a previous price target of $37 .
HCP Inc. (HCP) is a 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. Its portfolio includes owned portfolio unconsolidated joint ventures and developments and redevelopments. Its owned portfolio includes around 1040 properties under lease and 68 operating properties. It has interests in unconsolidated joint ventures representing around 88 properties in its senior housing life science and medical office segments. It has assets under development redevelopment and land held for future development in life science and medical office segments. The properties owned by it in medical office and senior housing segments which are under development or redevelopment include Pacific Corporate Park Memorial Hermann Sky Ridge Bayfront Folsom and Deer Park.