HCP, Inc. (NYSE:HCP) was downgraded by research analysts at
Morgan Stanley from an “equal weight” rating to an “underweight” rating in a
research note issued on Wednesday, StockTargetPrices.com reports. They
presently have a $32.00 target price on the real estate investment trust’s
stock. Morgan Stanley’s price objective would indicate a potential downside of
8.60% from the company’s current price.
Other large investors have recently made changes to their
positions in the company. Sentry Investment Management raised its stake in
shares of HCP by 20.7% in the fourth quarter. Sentry Investment Management now
owns 26,435 shares of the real estate investment trust’s stock valued at
$1,011,000 after buying an additional 4,538 shares during the period. Russell
Frank Co raised its stake in shares of HCP by 86.2% in the fourth quarter.
Russell Frank Co now owns 1,638,096 shares of the real estate investment
trust’s stock valued at $63,327,000 after buying an additional 758,379 shares
during the period. State Board of Administration of Florida Retirement System
raised its stake in shares of HCP by 1.5% in the fourth quarter. State Board of
Administration of Florida Retirement System now owns 615,360 shares of the real
estate investment trust’s stock valued at $23,531,000 after buying an
additional 9,100 shares during the period. Strs Ohio raised its stake in shares
of HCP by 1.7% in the fourth quarter. Strs Ohio now owns 769,313 shares of the
real estate investment trust’s stock valued at $29,418,000 after buying an
additional 12,935 shares during the period. Finally, California State Teachers
Retirement System raised its stake in shares of HCP by 1.6% in the fourth
quarter. California State Teachers Retirement System now owns 882,741 shares of
the real estate investment trust’s stock valued at $33,756,000 after buying an
additional 13,943 shares during the period.
Source: American Banking and Market News