UPDATE: Stifel Upgrades HCP (HCP) to Hold
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HCP, Inc. (HCP) Tops Q3 FFO by 1c; Updates FY16 FFO Outlook
November 1, 2016 8:07 AM EDTHCP, Inc. (NYSE: HCP) reported Q3 FFO of $0.72, $0.01 better than the analyst estimate of $0.71. Revenue for the quarter came in at $654.3 million versus the consensus estimate of $634.8 million.
GUIDANCE:
HCP, Inc. sees FY2016 FFO of $2.69-$2.75, versus the consensus of... More
HCP, Inc. (HCP) Announces ~$1.13B Property Portfolio Sale to Brookdale
November 1, 2016 8:05 AM EDTHCP (NYSE: HCP) announced that it has entered into definitive agreements to sell a portfolio of 64 properties leased to Brookdale Senior Living, Inc. ("Brookdale") for an aggregate sales price of $1.125 billion to affiliates of Blackstone Real Estate Partners VIII L.P. (collectively, "Blackstone"). HCP intends to use the proceeds primarily to pay down debt and for general corporate purposes. In addition, HCP and Brookdale have agreed to complete several other transactions, as outlined below. Combined, these transactions will advance our strategic priorities to reduce Brookdale concentration, improve lease coverage, diversify our operator relationships and... More
