HCP, Inc. (HCP) Reports In-Line Q1 EPS
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May 10, 2016 7:11 AM EDT
Jefferies upgraded HCP (NYSE: HCP) from Underperform to Hold with a price target of $32.00 (from $25.00).
Analyst Omotayo Okusanya commented, "We are upgrading HCP to Hold from Underperform based on news that HCP will be spinning off its underperforming ManorCare SNF... More
May 9, 2016 6:30 AM EDT
HCP (NYSE: HCP) announced that the Company's Board of Directors has unanimously approved a plan to spin off its HCR ManorCare ("HCRMC") portfolio of skilled nursing ("SNF") and assisted living assets, as well as other skilled nursing assets, into an independent, publicly-traded REIT ("SpinCo").
The spin-off transaction will enable HCP to improve its portfolio quality and increase its focus on core growth businesses Senior Housing, Life Science and Medical Office that consist of a diversified group of leading operators and tenants primarily within the private-pay sector. Following the completion of the spin-off, HCP's... More
May 9, 2016 6:25 AM EDT
(Reuters) - HCP Inc (NYSE: HCP), a real estate investment trust (REIT) focused on healthcare, said it would spin off its skilled nursing and assisted living properties into a publicly-traded REIT.
HCP said the spinoff would allow it to focus on its core... More
