Have you been eager to see how HCP Inc.HCP performed in Q4 in comparison with the market expectations? Let's quickly scan through the key facts from this Irvine, California-based healthcare real estate investment trust's (REIT) earnings release this morning:
A FFO Beat
HCP came out with adjusted funds from operations (FFO) of 59 cents per share, beating the Zacks Consensus Estimate of 57 cents.
How Was the Earnings Surprise Trend?
HCP has a decent surprise history. Before posting a FFO beat in Q4, the company delivered a positive surprise in three out of prior four quarters and in-line results in the other occasion, as shown in the chart below. Overall, the company surpassed the Zacks Consensus Estimate by an average of 2.42% in the trailing four quarters.
HCP, Inc. Price and EPS Surprise
HCP, Inc. Price and EPS Surprise | HCP, Inc. Quote
Revenue Came Lower Than Expected
HCP posted revenues of $540 million, which missed the Zacks Consensus Estimate of $563 million. However, it compared favorably with the year-ago number of $520.3 million.
Key Developments to Note
HCP completed the spin-off of Quality Care Properties, Inc. (QCP) on Oct 31, 2016.
HCP expects full-year 2017 adjusted FFO per share in a range of $1.89-$1.95. The company anticipates 2016 same property portfolio cash net operating income growth, in a range of 2.5- 3.5%.
What Zacks Rank Says
HCP currently has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .)
Note: All EPS numbers presented in this write up represent funds from operations ("FFO") per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
Check back later for our full write up on this HCP earnings report later!
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HCP, Inc. (HCP): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
