HCP Earnings: Revenues Up, But Net Income Falls
S&P 500 (NYSE:SPY) component HCP, Inc. (NYSE:HCP) reported a lower net income in first quarter, missing analysts’ estimates. HCP, Inc. is a real estate investment trust that acquires, develops, leases, manages healthcare real estate and offers financing to healthcare providers.
HCP Earnings Cheat Sheet for the First Quarter
Results: Net income for the healthcare facilities reit fell to $70.1 million (17 cents/share) vs. $81 million (25 cents/share) a year earlier. A decline of 13.5% from the year earlier quarter.
Revenue: Rose 12% to $331.7 million YoY.
Actual vs. Wall St. Expectations: HCP fell short of the mean analyst estimate of 45 cents/share. Estimates ranged from 41 cents per share to 54 cents per share.
Competitors to Watch: LTC Properties, Inc. (NYSE:LTC), Omega Healthcare Investors, Inc. (NYSE:OHI), National Health Investors Inc (NYSE:NHI), Medical Properties Trust, Inc. (NYSE:MPW), Healthcare Realty Trust Inc. (NYSE:HR), Health Care REIT, Inc. (NYSE:HCN), Senior Housing Properties Trust (NYSE:SNH), Universal Health Realty Income Trust (NYSE:UHT), Ventas, Inc. (NYSE:VTR), and Nationwide Health Properties Inc. (NYSE:NHP)
Stock Performance: Shares of HCP are trading down 1.38% from the previous close.