The company has done a successful job of delevering and strengthening the balance sheet. With nearly $1.4 billion available on its credit facility, the company has adequate capital to address 2009 and 2010 debt maturities.
We continue our Buy rating. We think healthcare will continue to outperform other REIT sectors in 2009.
The yield is still over 8% and is being covered with operating cash. The current payout is safe, and think HCP is one of the best positioned names.
HCP, Inc. - HCP : FULL ANALYST REPORT
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Read the full analyst report on HCP

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