Cornerstone Capital Lowers stake in HCP (HCP)

HCP (HCP) : Cornerstone Capital reduced its stake in HCP by 4.2% during the most recent quarter end. The investment management company now holds a total of 417,875 shares of HCP which is valued at $16,351,449 after selling 18,310 shares in HCP , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.HCP makes up approximately 3.48% of Cornerstone Capital’s portfolio.

Other Hedge Funds, Including , Blackrock Institutional Trust Company N.a. reduced its stake in HCP by selling 464,550 shares or 2.55% in the most recent quarter. The Hedge Fund company now holds 17,745,985 shares of HCP which is valued at $694,400,393. HCP makes up approx 0.11% of Blackrock Institutional Trust Company N.a.’s portfolio.Commerce Bank reduced its stake in HCP by selling 5,744 shares or 19.25% in the most recent quarter. The Hedge Fund company now holds 24,092 shares of HCP which is valued at $928,988. HCP makes up approx 0.01% of Commerce Bank’s portfolio.Quantbot Technologies Lp boosted its stake in HCP in the latest quarter, The investment management firm added 126,459 additional shares and now holds a total of 188,611 shares of HCP which is valued at $7,372,804. HCP makes up approx 0.76% of Quantbot Technologies Lp’s portfolio.Prospera Financial Services Inc reduced its stake in HCP by selling 200 shares or 1.58% in the most recent quarter. The Hedge Fund company now holds 12,441 shares of HCP which is valued at $481,093. HCP makes up approx 0.10% of Prospera Financial Services Inc’s portfolio. Gilman Hill Asset Management sold out all of its stake in HCP during the most recent quarter. The investment firm sold 8,200 shares of HCP which is valued $318,980.

HCP closed down -0.37 points or -0.93% at $39.47 with 40,20,665 shares getting traded on Friday. Post opening the session at $39.72, the shares hit an intraday low of $39.26 and an intraday high of $39.96 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, HCP reported $0.71 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.70. The company had revenue of $662.20 million for the quarter, compared to analysts expectations of $623.74 million. The company’s revenue was up 9.0% 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. Company shares were Reiterated by Mizuho on Aug 10, 2016 to “Neutral”, Firm has raised the Price Target to $ 37 from a previous price target of $32 .HCP was Initiated by Raymond James to “Underperform” on Jul 26, 2016. HCP was Upgraded by Goldman to ” Neutral” on Jul 8, 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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