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4-Traders Homepage  >  Equities  >  Nyse  >  HCP, Inc.    HCP

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HCP, Inc. : HCP 1Q Net More Than Doubles As Revenue Surges; Lifts Fiscal Year View

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05/01/2012 | 02:59pm CET

HCP Inc.'s (HCP) first-quarter net income more than doubled as revenue soared and the health-care real-estate investment trust recorded better-than-expected growth in a key performance metric.

The REIT--whose investments include senior housing, medical offices and skilled-nursing properties--has had its revenue steadily grow with help from several acquisitions.

Looking ahead, HCP raised its full-year outlook for funds for operations, a key measure of performance for REITs, by a penny. It nows expects FFO of $2.71 to $2.77 for the year.

For the first quarter, the company reported a profit of $193.4 million, up sharply from a year-earlier profit of $70.1 million. On a per-share basis, which reflects the payment of preferred dividends, earnings jumped to 43 cents from 17 cents a year earlier, matching analyst expectations.

Overall revenue climbed 39% to $459 million. Analysts polled by Thomson Reuters expected $463 million.

Adjusted fund from operations rose to 67 cents from 56 cents, topping the 66 cents analysts expected.

Shares closed Monday at $41.45 and were inactive premarket. The stock is up 4.6% over the past 12 months.

-By Mia Lamar, Dow Jones Newswires; 212-416-3207; mia.lamar@dowjones.com

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Financials ($)
Sales 2016 2 479 M
EBIT 2016 1 046 M
Net income 2016 642 M
Debt 2016 8 621 M
Yield 2016 7,01%
P/E ratio 2016 19,82
P/E ratio 2017 23,84
EV / Sales 2016 8,97x
EV / Sales 2017 9,59x
Capitalization 13 609 M
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HCP, Inc. Technical Analysis Chart | HCP | US40414L1098 | 4-Traders
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Consensus
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Buy
Mean consensus HOLD
Number of Analysts 18
Average target price 30,0 $
Spread / Average Target 3,3%
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Managers
NameTitle
Michael Dale McKee Executive Chairman, President & CEO
Thomas M. Herzog Chief Financial Officer & Executive Vice President
Keith Bereskin SVP-Information Technology & Building Operations
Joseph P. Sullivan Independent Director
Peter L. Rhein Independent Director
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