HCP Announces Results for Quarter Ended September 30, 2016 and Completes the QCP Spin Transaction
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November 1, 2016 8:07 AM EDT
HCP, 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
November 1, 2016 8:05 AM EDT
HCP (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
