HCP Inc. Earnings Cheat Sheet: FFO Rises
S&P 500 (NYSE:SPY) component HCP Inc. (NYSE:HCP) reported its results for the fourth quarter. HCP is a real estate investment trust that acquires, develops, leases, manages healthcare real estate and offers financing to healthcare providers.
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HCP Earnings Cheat Sheet for the Fourth Quarter
Results: The company’s funds from operations (FFO) rose 4.7% from the year earlier quarter to 67 cents. FFO, a measure of performance of a real estate investment trust (REIT), removes the profit-reducing effect that depreciation has on earnings. It fell short of the consensus estimate of 68 cents per share.
Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the first quarter of the next fiscal year has moved up from 68 cents a share to 69 cents over the last ninety days. The average estimate for the fiscal year has risen to $2.55 per share from $2.53 in the past month.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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