Edgemoor Investment Advisors Lowers stake in HCP (HCP)

HCP (HCP) : Edgemoor Investment Advisors reduced its stake in HCP by 6.23% during the most recent quarter end. The investment management company now holds a total of 194,265 shares of HCP which is valued at $7,593,819 after selling 12,901 shares in HCP , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.HCP makes up approximately 1.18% of Edgemoor Investment Advisors’s portfolio.

Other Hedge Funds, Including , Diam Ltd. reduced its stake in HCP by selling 65,384 shares or 5.56% in the most recent quarter. The Hedge Fund company now holds 1,110,978 shares of HCP which is valued at $43,428,130. HCP makes up approx 0.62% of Diam Ltd.’s portfolio.California State Teachers Retirement System boosted its stake in HCP in the latest quarter, The investment management firm added 10,493 additional shares and now holds a total of 1,019,006 shares of HCP which is valued at $39,832,945. HCP makes up approx 0.08% of California State Teachers Retirement System’s portfolio. Real Estate Management Services added HCP to its portfolio by purchasing 106,200 company shares during the most recent quarter which is valued at $4,106,754. HCP makes up approx 0.68% of Real Estate Management Services’s portfolio.Jnba Financial Advisors reduced its stake in HCP by selling 604 shares or 66.81% in the most recent quarter. The Hedge Fund company now holds 300 shares of HCP which is valued at $11,670.Hartford Investment Management Co boosted its stake in HCP in the latest quarter, The investment management firm added 21,433 additional shares and now holds a total of 135,233 shares of HCP which is valued at $5,260,564. HCP makes up approx 0.11% of Hartford Investment Management Co’s portfolio.

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 $0.71 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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