HCP Swings To Profit In Q4

(RTTNews) - HCP Inc. (HCP) Monday announced fourth quarter FFO of $162.265 million or $0.35, compared to negative FFO of $458.68 million or $0.99 per share last year. On an adjusted basis, FFO was $276.200 million or $0.59 per share.

On average, 6 analysts polled by Thomson Reuters were looking for $0.26 per share. Analysts estimates usually exclude special items.

Net income for the quarter were $58.44 million, while the company reported a loss of $599.16 million in the previous year.

Looking ahead to the full year, the company expects earnings per share to be $1.32 to $1.38 and FFO per share in a range of $1.88 to $1.94. On an adjusted basis, FFO is expected to be $1.89 to $.195 per share in line with its previous outlook.