This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

HCP Announces Results For The Fourth Quarter And Year Ended December 31, 2013

HCP (the “Company” or “we”) (NYSE:HCP) announced results for the quarter and year ended December 31, 2013 as follows (in thousands, except per share amounts):

      Three Months Ended

December 31, 2013
      Three Months Ended

December 31, 2012

Per Share
Amount       Per Share Amount       Per Share Change
FFO $ 346,018 $ 0.76 $ 317,839 $ 0.71 $ 0.05
Severance-related charges (1) 870
Merger-related items (2)       5,642   0.01   (0.01 )
FFO as adjusted $

$ 0.76 $ 323,481 $ 0.72 $ 0.04
FAD $ 276,829 $ 0.61 $ 253,841 $ 0.57 $ 0.04
EPS $ 292,625 $ 0.64 $ 239,881 $ 0.53 $ 0.11

(1)   Severance-related charges were attributable to the termination of the Company’s former Chairman, Chief Executive Officer and President on October 2, 2013. See the “Funds From Operations” section of this release for additional information.
(2) The merger-related items were attributable to the $1.7 billion Senior Housing Portfolio acquisition in the fourth quarter of 2012. See the “Funds From Operations” section of this release for additional information.

In addition to the severance-related charges, operating results for the quarter ended December 31, 2013 include the positive impact of $0.01 per share or $6 million of equity income from unconsolidated joint venture related to a capital distribution from our interest in the Hyde Park senior housing development project. Earnings per share for the quarters ended December 31, 2013 and 2012, also include gain on sales of real estate, net of impairments, of $59 million and $29 million, respectively.

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,776.43 +304.06 1.85%
S&P 500 1,987.05 +35.69 1.83%
NASDAQ 4,781.2640 +73.4890 1.56%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs