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HCP Inc. (HCP) Q1 FFO Beats Estimates, Revenues Lag
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Have you been eager to see how HCP Inc. (HCP - Free Report) performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this Irvine, California-based healthcare real estate investment trust’s (REIT) earnings release this morning:
A FFO Beat
HCP came out with funds from operations (“FFO”) as adjusted of 51 cents per share, beating the Zacks Consensus Estimate of 48 cents.
Results were driven by growth in three-month same property portfolio (SPP) cash net operating income (NOI).
How Was the Earnings Surprise Trend?
HCP has a decent surprise history. Before posting a FFO beat in Q1, the company delivered a positive surprise in three out of prior four quarters and in-line result in the other occasion, as shown in the chart below.
Overall, the company surpassed the Zacks Consensus Estimate by an average of 2.66% in the trailing four quarters.
Revenue Came Lower Than Expected
HCP posted revenues of $492.2 million, which missed the Zacks Consensus Estimate of $522.6 million. It also compared unfavorably with the year-ago number of $520.5 million.
Key Developments to Note
During the quarter, HCP completed the previously announced sale of 64 triple-net assets leased to Brookdale Senior Living, Inc. at $1.125 billion. The company used the proceeds for debt repayment and for meeting general corporate needs.
HCP has reaffirmed full-year 2017 FFO as adjusted and SPP cash NOI guidance ranges. The company expects full-year 2017 FFO as adjusted per share in the $1.89–$1.95 band. The company anticipates 2017 SPP cash NOI growth in a range of 2.5– 3.5%.
What Zacks Rank Says
HCP currently has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Note: All EPS numbers presented in this write up represent funds from operations (“FFO”) per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
Check back later for our full write up on this HCP earnings report later!
Sell These Stocks. Now.
Just released, today's 220 Zacks Rank #5 Strong Sells demand urgent attention. If any are lurking in your portfolio or Watch List, they should be removed immediately. These sinister companies because many appear to be sound investments. However, from 1988 through 2016, stocks from our Strong Sell list have actually performed 6X worse than the S&P 500.
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HCP Inc. (HCP) Q1 FFO Beats Estimates, Revenues Lag
Have you been eager to see how HCP Inc. (HCP - Free Report) performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this Irvine, California-based healthcare real estate investment trust’s (REIT) earnings release this morning:
A FFO Beat
HCP came out with funds from operations (“FFO”) as adjusted of 51 cents per share, beating the Zacks Consensus Estimate of 48 cents.
Results were driven by growth in three-month same property portfolio (SPP) cash net operating income (NOI).
How Was the Earnings Surprise Trend?
HCP has a decent surprise history. Before posting a FFO beat in Q1, the company delivered a positive surprise in three out of prior four quarters and in-line result in the other occasion, as shown in the chart below.
HCP, Inc. Price and EPS Surprise
HCP, Inc. Price and EPS Surprise | HCP, Inc. Quote
Overall, the company surpassed the Zacks Consensus Estimate by an average of 2.66% in the trailing four quarters.
Revenue Came Lower Than Expected
HCP posted revenues of $492.2 million, which missed the Zacks Consensus Estimate of $522.6 million. It also compared unfavorably with the year-ago number of $520.5 million.
Key Developments to Note
During the quarter, HCP completed the previously announced sale of 64 triple-net assets leased to Brookdale Senior Living, Inc. at $1.125 billion. The company used the proceeds for debt repayment and for meeting general corporate needs.
HCP has reaffirmed full-year 2017 FFO as adjusted and SPP cash NOI guidance ranges. The company expects full-year 2017 FFO as adjusted per share in the $1.89–$1.95 band. The company anticipates 2017 SPP cash NOI growth in a range of 2.5– 3.5%.
What Zacks Rank Says
HCP currently has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Note: All EPS numbers presented in this write up represent funds from operations (“FFO”) per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
Check back later for our full write up on this HCP earnings report later!
Sell These Stocks. Now.
Just released, today's 220 Zacks Rank #5 Strong Sells demand urgent attention. If any are lurking in your portfolio or Watch List, they should be removed immediately. These sinister companies because many appear to be sound investments. However, from 1988 through 2016, stocks from our Strong Sell list have actually performed 6X worse than the S&P 500.
See today's Zacks "Strong Sells" absolutely free >>.