UPDATE: HCP Posts Rise In Q4 Profit, Issues Weak 2014 Guidance
HCP (NYSE: HCP) reported a 22% rise in its fourth-quarter earnings.
HCP expects 2014 funds from operations of $2.96 to $3.02 per share, compared to analysts' expectations of $3.04 per share.
HCP's quarterly profit climbed to $293.1 million, or $0.64 per share, versus $241 million, or $0.53 per share, in the year-ago period.
Its revenue surged 5.4% to $530.3 million. However, analysts were expecting earnings of $0.48 per share on revenue of $510 million.
Its adjusted funds from operations gained to $0.76 per share versus $0.72 per share.
HCP shares closed at $38.82 yesterday.
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