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Why Is HCP, Inc (HCP) Down 3% Since the Last Earnings Report?
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A month has gone by since the last earnings report for HCP, Inc. (HCP - Free Report) . Shares have lost nearly 3% in that time frame, underperforming the market.
Will the recent negative trend continue leading up to the stock’s next earnings release, or is it due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
HCP Inc.'s Q4 FFO Beats Estimates, Revenues Lag
HCP Inc. reported fourth-quarter 2016 adjusted FFO per share of $0.59, beating the Zacks Consensus Estimate of $0.57. However, the FFO came in lower than the prior-year quarter figure of $0.80.
For full-year 2016, the FFO came in at $2.74 per share, down from $3.16 recorded in 2015. The Zacks Consensus Estimate for 2016 was pegged at $2.72.
For the quarter, the company posted revenues of $540 million, which missed the Zacks Consensus Estimate of $563 million. However, it came in higher than the year-ago number of $520.3 million.
For 2016, total revenue came in at $2.13 billion, up from the 2015 figure of $1.94 billion. The Zacks Consensus Estimate for revenues for 2016 was $2.49 billion.
Behind the Headlines
HCP Inc.’s three-month cash same property portfolio net operating income (NOI) grew 2.6% year-over-year.
Further, the company completed 1.1 million square feet of leasing in its life science and medical office portfolios, comprising 450,000 square feet of new leases and 668,000 square feet of renewals.
Notably, on Oct 31, 2016, the company completed the spin-off of Quality Care Properties, Inc. Moreover, during the reported quarter, the company HCP Inc. completed $345 million of acquisitions and closed $472 million of dispositions.
Finally, HCP Inc. exited the fourth quarter with cash and cash equivalents of $94.7 million.
Outlook
HCP Inc. expects full-year 2017 adjusted FFO per share in the range of $1.89–$1.95. The company anticipates 2017 same property portfolio cash net operating income growth in a range of 2.5–3.5%.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates flatlined during the past month. There has been one upward revision for the current quarter compared to one downward.
At this time, HCP, Inc.'s stock has a poor Growth Score of 'F', however its Momentum is doing a lot better with an 'A'. However, the stock was allocated a grade of 'D' on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of 'D'. If you aren't focused on one strategy, this score is the one you should be interested in.
The company's stock is suitable solely for momentum based on our styles scores.
Outlook
The stock has a Zacks Rank #3 (Hold). We are expecting an inline return from the stock in the next few months.
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Why Is HCP, Inc (HCP) Down 3% Since the Last Earnings Report?
A month has gone by since the last earnings report for HCP, Inc. (HCP - Free Report) . Shares have lost nearly 3% in that time frame, underperforming the market.
Will the recent negative trend continue leading up to the stock’s next earnings release, or is it due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
HCP Inc.'s Q4 FFO Beats Estimates, Revenues Lag
HCP Inc. reported fourth-quarter 2016 adjusted FFO per share of $0.59, beating the Zacks Consensus Estimate of $0.57. However, the FFO came in lower than the prior-year quarter figure of $0.80.
For full-year 2016, the FFO came in at $2.74 per share, down from $3.16 recorded in 2015. The Zacks Consensus Estimate for 2016 was pegged at $2.72.
For the quarter, the company posted revenues of $540 million, which missed the Zacks Consensus Estimate of $563 million. However, it came in higher than the year-ago number of $520.3 million.
For 2016, total revenue came in at $2.13 billion, up from the 2015 figure of $1.94 billion. The Zacks Consensus Estimate for revenues for 2016 was $2.49 billion.
Behind the Headlines
HCP Inc.’s three-month cash same property portfolio net operating income (NOI) grew 2.6% year-over-year.
Further, the company completed 1.1 million square feet of leasing in its life science and medical office portfolios, comprising 450,000 square feet of new leases and 668,000 square feet of renewals.
Notably, on Oct 31, 2016, the company completed the spin-off of Quality Care Properties, Inc. Moreover, during the reported quarter, the company
HCP Inc. completed $345 million of acquisitions and closed $472 million of dispositions.
Finally, HCP Inc. exited the fourth quarter with cash and cash equivalents of $94.7 million.
Outlook
HCP Inc. expects full-year 2017 adjusted FFO per share in the range of $1.89–$1.95. The company anticipates 2017 same property portfolio cash net operating income growth in a range of 2.5–3.5%.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates flatlined during the past month. There has been one upward revision for the current quarter compared to one downward.
HCP, Inc. Price and Consensus
HCP, Inc. Price and Consensus | HCP, Inc. Quote
VGM Scores
At this time, HCP, Inc.'s stock has a poor Growth Score of 'F', however its Momentum is doing a lot better with an 'A'. However, the stock was allocated a grade of 'D' on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of 'D'. If you aren't focused on one strategy, this score is the one you should be interested in.
The company's stock is suitable solely for momentum based on our styles scores.
Outlook
The stock has a Zacks Rank #3 (Hold). We are expecting an inline return from the stock in the next few months.