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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| HCP Inc | NYSE:HCP | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 35.78 | 0 | 01:00:00 |
On Mar 6, 2014, we issued an updated research report on the healthcare real estate investment trust (REIT) – HCP Inc. (HCP).
On Feb 11, aided by growth in revenues, HCP reported fourth-quarter 2013 adjusted FFO per share of 76 cents, 2 cents ahead of the Zacks Consensus Estimate and 4 cents above the prior-year quarter figure. Total revenue grew 5.4% from the year-ago period and also exceeded the Zacks Consensus Estimate.
Going forward, we believe that HCP is well poised for a strong growth trajectory given its well-balanced, diversified portfolio and opportunistic acquisitions. Moreover, aging population and rising healthcare expenses offer significant growth opportunities to this healthcare REIT.
The company has a decent balance sheet with investment grade credit ratings. It has also increased its dividend per share for 29 consecutive years, with the latest dividend hike having occurred recently.
However, for a number of its tenants and operators, one of the key sources of revenues is governmental healthcare programs such as the federal Medicare program and state Medicaid programs and non-governmental payors. This is a concern as in the recent years governmental payors have reduced payments to healthcare providers due to budgetary pressures. Also, cut-throat competition and rising interest rates that are expected in the long term remain a challenge for this company.
Over the last 7 days, the Zacks Consensus Estimate have moved up a cent to $3.02 per share for 2014 and remained unchanged at $3.14 for 2015. The stock currently has a Zacks Rank #3 (Hold).
Stocks That Warrant a Look
Some better-ranked stocks in the REIT industry include Cousins Properties Incorporated (CUZ), Liberty Property Trust (LPT) and Public Storage (PSA). All three stocks have a Zacks Rank #2 (Buy).
Note: FFO, a widely used metric to gauge the performance of REITs, are obtained after adding depreciation, amortization and other non-cash expenses to net income.
1 Year HCP Chart |
1 Month HCP Chart |
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