Hexavest Lowers stake in HCP (HCP)

HCP (HCP) : Hexavest reduced its stake in HCP by 8.6% during the most recent quarter end. The investment management company now holds a total of 1,164,636 shares of HCP which is valued at $41,635,737 after selling 109,551 shares in HCP , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.HCP makes up approximately 0.76% of Hexavest’s portfolio.

Other Hedge Funds, Including , Legal General Group Plc boosted its stake in HCP in the latest quarter, The investment management firm added 72,329 additional shares and now holds a total of 3,154,893 shares of HCP which is valued at $112,787,425. HCP makes up approx 0.12% of Legal General Group Plc’s portfolio.Raymond James Trust N.a. boosted its stake in HCP in the latest quarter, The investment management firm added 1,621 additional shares and now holds a total of 17,067 shares of HCP which is valued at $615,436. HCP makes up approx 0.05% of Raymond James Trust N.a.’s portfolio. Gofen Glossberg Il sold out all of its stake in HCP during the most recent quarter. The investment firm sold 5,850 shares of HCP which is valued $210,951.Lgt Capital Partners Ltd. boosted its stake in HCP in the latest quarter, The investment management firm added 72,960 additional shares and now holds a total of 514,400 shares of HCP which is valued at $18,549,264. HCP makes up approx 2.61% of Lgt Capital Partners Ltd.’s portfolio.Chevy Chase Trust Holdings reduced its stake in HCP by selling 8,829 shares or 2.2% in the most recent quarter. The Hedge Fund company now holds 392,383 shares of HCP which is valued at $14,247,427. HCP makes up approx 0.08% of Chevy Chase Trust Holdings’s portfolio.

HCP closed down -0.31 points or -0.86% at $35.75 with 20,83,220 shares getting traded on Tuesday. Post opening the session at $35.96, the shares hit an intraday low of $35.53 and an intraday high of $36.14 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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. HCP was Upgraded by BofA/Merrill to ” Neutral” on Oct 4, 2016. 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 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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