Callahan Advisors Exits Position in HCP (HCP)

HCP (HCP) : Callahan Advisors has sold out all of its stake in HCP during the most recent quarter, according to the disclosure filed by the company on Oct 14, 2016 with the SEC. The investment management company has sold out 5,870 shares of HCP which is valued at $212,729.

Other Hedge Funds, Including , Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in HCP in the latest quarter, The investment management firm added 3,709 additional shares and now holds a total of 112,038 shares of HCP which is valued at $4,060,257. HCP makes up approx 0.09% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio.Hexavest reduced its stake in HCP by selling 109,551 shares or 8.6% in the most recent quarter. The Hedge Fund company now holds 1,164,636 shares of HCP which is valued at $41,635,737. HCP makes up approx 0.76% of Hexavest’s portfolio.Creative Planning boosted its stake in HCP in the latest quarter, The investment management firm added 66,407 additional shares and now holds a total of 95,358 shares of HCP which is valued at $3,409,049. HCP makes up approx 0.02% of Creative Planning’s portfolio.Nisa Investment Advisors boosted its stake in HCP in the latest quarter, The investment management firm added 11,735 additional shares and now holds a total of 134,761 shares of HCP which is valued at $4,817,706. HCP makes up approx 0.06% of Nisa Investment Advisors’s portfolio.Curbstone Financial Management Corp reduced its stake in HCP by selling 800 shares or 1.31% in the most recent quarter. The Hedge Fund company now holds 60,200 shares of HCP which is valued at $2,185,862. HCP makes up approx 0.71% of Curbstone Financial Management Corp’s portfolio.

HCP closed down -0.23 points or -0.63% at $36.24 with 16,34,999 shares getting traded on Friday. Post opening the session at $36.47, the shares hit an intraday low of $36.13 and an intraday high of $36.67 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. 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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