HCP Inc. (HCP) reported that its third-quarter Funds From Operations or FFO applicable to common shares rose to $380.79 million from $339.37 million in the previous year. FFO per common share was $0.82 up from $0.73 in the prior year.
But, adjusted FFO per share was $0.75 down from $0.79 last year.
Net income applicable to common shares for the third-quarter increased to $247.21 million from the previous year's $233.28 million, with earnings per share improving to $0.54 from $0.51 last year.
Total revenues for the quarter grew to $596.64 million from $546.16 million in the previous year.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.77 per share and revenues of $534.61 million for the quarter. Analysts' estimates typically exclude special items.
For full year 2014, including the benefit from the committed UK debt investment, the company expects FFO to range between $3.03 and $3.09 per share; FFO as adjusted to range between $2.98 and $3.04 per share; Funds Available for Distribution or FAD to range between $2.52 and $2.58 per share; and earnings per share to range between $2.04 and $2.10. Analysts expect annual earnings of $3.03 per share.
For comments and feedback contact: editorial@rttnews.com
Business News