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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 2 473 M
EBIT 2016 1 060 M
Net income 2016 663 M
Debt 2016 8 589 M
Yield 2016 6,91%
P/E ratio 2016 20,38
P/E ratio 2017 26,25
EV / Sales 2016 9,14x
EV / Sales 2017 10,3x
Capitalization 14 020 M
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Mean consensus HOLD
Number of Analysts 18
Average target price 30,2 $
Spread / Average Target 0,90%
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Managers
NameTitle
Thomas M. Herzog Chief Executive Officer & Director
James Justin Hutchens President
Michael Dale McKee Executive Chairman
Keith Bereskin SVP-Information Technology & Building Operations
Joseph P. Sullivan Independent Director
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