HCP, Inc. (HCP) Reports Q1 EPS of $0.97

HCP, Inc. (NYSE: HCP) reported Q1 EPS of $0.97, versus $0.25 reported last year.

--- EPS, FFO and FFO as adjusted per share, were $0.97, $0.61 and $0.51, respectively

-- Year-over-year three-month SPP Cash NOI growth of 4.0%

-- Completed the previously announced sale of 64 triple-net assets leased to Brookdale Senior Living, Inc. (\"Brookdale\") and the sale and related financing of a 40% interest in our RIDEA II senior housing joint venture generating combined proceeds of $1.6 billion

-- Repaid $1.1 billion of our debt during the quarter and remain on track to meet our previously disclosed balance sheet targets

-- Sold our debt investments in Four Seasons generating proceeds of $136 million

-- Signed a 67,000 square foot lease at Phase I of The Cove life science development in South San Francisco, CA, bringing Phases I and II to 100% leased

-- Peter Scott joined HCP as EVP and Chief Financial Officer

-- Announced Justin Hutchens to leave the company to become CEO of U.K.-based operator HC-One

-- Reaffirmed full-year 2017 FFO as adjusted and SPP Cash NOI guidance ranges

For earnings history and earnings-related data on HCP, Inc. (HCP) click here.

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