Carnegie Capital Asset Management Lowers stake in HCP (HCP)

HCP (HCP) : Carnegie Capital Asset Management reduced its stake in HCP by 9.42% during the most recent quarter end. The investment management company now holds a total of 100,284 shares of HCP which is valued at $3,920,102 after selling 10,431 shares in HCP , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.HCP makes up approximately 0.55% of Carnegie Capital Asset Management’s portfolio.

Other Hedge Funds, Including , Tokio Marine Asset Management Co Ltd reduced its stake in HCP by selling 826 shares or 5.43% in the most recent quarter. The Hedge Fund company now holds 14,391 shares of HCP which is valued at $556,500. HCP makes up approx 0.06% of Tokio Marine Asset Management Co Ltd’s portfolio.Duncker Streett Co Inc reduced its stake in HCP by selling 147 shares or 0.65% in the most recent quarter. The Hedge Fund company now holds 22,613 shares of HCP which is valued at $879,646. HCP makes up approx 0.30% of Duncker Streett Co Inc’s portfolio.Bennicas Associates reduced its stake in HCP by selling 1,000 shares or 3.49% in the most recent quarter. The Hedge Fund company now holds 27,624 shares of HCP which is valued at $1,059,104. HCP makes up approx 0.93% of Bennicas Associates’s portfolio. Randolph Co Inc sold out all of its stake in HCP during the most recent quarter. The investment firm sold 408,825 shares of HCP which is valued $15,302,320.

HCP opened for trading at $38.44 and hit $38.68 on the upside on Monday, eventually ending the session at $38.44, with a gain of 0.08% or 0.03 points. The heightened volatility saw the trading volume jump to 20,26,001 shares. Company has a market cap of $17,955 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 Initiated by Raymond James to “Underperform” on Jul 26, 2016. HCP was Upgraded by Goldman to ” Neutral” on Jul 8, 2016. HCP was Downgraded by Morgan Stanley to ” Underweight” on Jun 22, 2016.

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.

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