$HCP (HCP, Inc.)

$HCP {{ '2016-08-09T12:12:45+0000' | timeago}} • Announcement

$HCP posted improved earnings in 2Q16, helped by higher other income, net compared to 2Q15. Net income applicable to common shares was $301.38MM or $0.64 per diluted share compared to $164.52MM or $0.36 per diluted share last year. Total revenues grew 9% from a year ago to $662.2MM.

$HCP {{ '2017-07-26T15:33:54+0000' | timeago}} • Announcement

$HCP said $593Bil aggregate principal amount of its senior notes were validly tendered pursuant to a recent tender offer. The offer is to purchase for cash up to an aggregate principal amount of $500Bil of the company’s 5.375% Senior Notes due 2021.

$HCP {{ '2017-07-12T13:23:31+0000' | timeago}} • Announcement

$HCP commenced a tender offer to buy for cash up to an aggregate principal amount of $500MM of $HCP's 5.735% senior notes due 2021. The Tender Offer will expire on Aug. 8, 2017, unless extended or earlier terminated.

$HCP {{ '2017-07-11T12:00:05+0000' | timeago}} • Announcement

$HCP appointed Shawn Johnston as SVP and CAO, effective Aug. 15, 2017. Johnston will replace its current CAO Scott Anderson, who is leaving $HCP to pursue other career opportunities. Anderson will remain with $HCP in his current capacity through Aug. 17, 2017 to ensure a smooth transition and oversee the preparation of 2Q17 statements.

$HCP {{ '2017-05-15T13:33:59+0000' | timeago}} • Announcement

$HCP appointed Scott Brinker as EVP and Chief Investment Officer, with an effective date of Jan. 4, 2018. Brinker will report to $HCP's CEO Tom Herzog. Brinker most recently served as Chief Investment Officer at $HCN from July 2014 to January 2017.

$HCP {{ '2017-05-02T17:56:48+0000' | timeago}} • Webcast

$HCP has got a little over $0.5Bil that it can invest without raising new funds. This is after $350MM on development. The company has plans to complete some acquisitions this year.

$HCP {{ '2017-05-02T17:42:38+0000' | timeago}} • Webcast

$HCP has 25 Brookdale communities and the company is in the process of selling most of those properties. $HCP is in discussion with various parties and there has been significant interest and the company expects to sell those by the end of 2017.

$HCP {{ '2017-05-02T17:00:36+0000' | timeago}} • Webcast

$HCP stated that it has started the search for the new Chief Investment Officer with the help of executive search firm Russell Reynolds. The company is seeking somebody with private-pay healthcare real estate experience. $HCP added that it will take some time and select a right person.

$HCP {{ '2017-05-02T12:42:50+0000' | timeago}} • Announcement

For 2017, $HCP expects EPS to be $1.43-1.49, FFO per share to be $1.99-2.05 and adjusted FFO per share to be $1.89-1.95. During 1Q17, the company repaid $1.1Bil of debt using the proceeds generated from the Brookdale transactions and other dispositions.

$HCP {{ '2017-05-02T12:40:45+0000' | timeago}} • Announcement

$HCP's funds from operations decreased 10% to $288.2MM or $0.61 per share in 1Q17 compared to the year ago quarter. Adjusted FFO per share declined to $0.51 from $0.69 a year ago.

$HCP {{ '2017-05-02T12:31:36+0000' | timeago}} • Announcement

Healthcare REIT $HCP reported a 300% jump in 1Q17 profit, aided by the gain on sales of real estate and lower expenses. Net income surged to $460.4MM or $0.97 per share from $115.8MM or $0.25 per share a year ago. Net income included net gain on sales of real estate of $0.67 per share. Revenue declined 5% to $492.2MM.

$HCP {{ '2017-04-28T16:31:19+0000' | timeago}} • Announcement

$HCP's BoD declared a quarterly common stock cash dividend of $0.37 per share. The dividend will be paid on May 23, 2017 to stockholders of record as of the close of business on May 8, 2017.

$HCP {{ '2017-04-03T12:46:32+0000' | timeago}} • Announcement

$HCP said its President, Justin Hutchens, will be leaving the company. $HCP has started the process of recruiting a new Chief Investment Officer and has retained Russell Reynolds Associates, a global executive search firm.

$HCP {{ '2017-04-03T12:44:25+0000' | timeago}} • Announcement

$HCP said its President, Justin Hutchens, will be leaving $HCP to become CEO of HC-One, a home provider in the United Kingdom. Hutchens will remain in his current role at $HCP through June 1 to ensure a smooth transition of his duties and to assist with $HCP's 1Q17 earnings announcement.

$HCP {{ '2017-02-13T18:57:06+0000' | timeago}} • Webcast

$HCP is focused on all three lines of its business. There has been some activity in MOBs and the transaction market has been fairly robust. The company would add to its portfolio in the MOB area. In senior housing, $HCP will focus on the right assets in the right locations with proper yields. $HCP is also looking to grow in life sciences.

$HCP {{ '2017-02-13T18:20:31+0000' | timeago}} • Webcast

$HCP has not exited the UK but is assessing whether it will grow there in the future. The company added one investment in 4Q16 for about $135MM in the form of an option to acquire real estate. $HCP chose to eliminate its infrastructure in Europe based on the size of its portfolio as it is not looking currently to grow there.

$HCP {{ '2017-02-13T18:02:28+0000' | timeago}} • Webcast

$HCP is expecting total revenue growth of about 4.4% for its shop portfolio in 2017. Occupancy is expected to grow by 160BP and expense growth is expected to be 5.3% which is driven by higher wages due to competitive pressures and also the additional labor that would come with the additional occupancy.

$HCP {{ '2017-02-13T17:46:33+0000' | timeago}} • Webcast

$HCP expects overall same-store cash NOI growth to range from 2.5-3.5% in 2017. For life science, the company increased its guidance to 2.5-3.5%. For medical office, $HCP expects steady performance in the 2-3% range. For hospitals and UK real estate, $HCP expects 0.75-1.75% growth. For senior housing triple net, $HCP expects 3.9-4.9%.

$HCP {{ '2017-02-13T17:36:46+0000' | timeago}} • Webcast

During 4Q16, $HCP completed $345MM of acquisitions and loan fundings bringing the full-year 2016 total to $723MM at a blended cash yield of 6.7%. In 4Q16, the company acquired a portfolio of 10 MOBs for $163MM, representing a 6% lease rate with 2% escalators and a 15-year initial term. $HCP had same-store cash NOI growth of 2.6% in 4Q16.

$HCP {{ '2017-02-13T17:27:43+0000' | timeago}} • Webcast

$HCP plans to prune non-core assets and recycle capital into higher growth opportunities every year. Over the next couple of years, the company expects to recycle around $300-400MM per year while also allocating $250-350MM per year into NAV and FFO accretive development and redevelopment projects.

$HCP {{ '2017-02-13T17:20:44+0000' | timeago}} • Webcast

$HCP believes new healthcare policies will take around 1-2 years to roll out. By exiting the skilled nursing space and repositioning its portfolio towards senior housing, medical office and life science assets, the company has substantially derisked its portfolio. $HCP sees little or no exposure to changes being considered to US health policy.

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