HCP Q2 FFO Up - Quick Facts

(RTTNews) - HCP Inc.'s (HCP) second-quarter funds from operations or FFO applicable to common shares increased to $330.99 million, or $0.72 per share, from $296.75 million, or $0.69 per share last year. FAD applicable to common shares totaled $283.8 million, or $0.62 per share in the quarter. For the quarter, net income applicable to common shares advanced year-over-year to $213.02 million, from $201.47 million, while earnings per share edged down to $0.47, from $0.48 a year earlier.

Total revenues amounted to $516.28 million, an increase compared with $460.42 million in the earlier year period.

Commenting on the outlook, the company said: "We are raising our guidance for full year 2013; we expect: FFO applicable to common shares to range between $2.96 and $3.02 per share, which estimate at the mid-point represents an increase of 8% over the 2012 FFO as adjusted per share amount; FAD applicable to common shares to range between $2.46 and $2.52 per share, which estimate at the mid-point represents an increase of 12% over the 2012 comparable amount; and net income applicable to common shares to range between $1.98 and $2.04 per share."