Market Overview

Healthcare REITs Down On Brookdale, HCP Guidance

Share:
Healthcare REITs Down On Brookdale, HCP Guidance
Related BKD
Watch These 8 Huge Call Purchases In Friday Trade
Benzinga's Option Alert Recap From February 16
Tracking Larry Robbins' Glenview Capital Management Portfolio - Q4 2016 Update (Seeking Alpha)
Related HCP
7 Stocks You Should Be Watching Today
Earnings Scheduled For February 13, 2017
Real Estate Weekly: REITs Rally, Home Prices Rise (Seeking Alpha)

Healthcare REITs were trading lower on Tuesday after HCP, Inc. (NYSE: HCP) and Brookdale Senior Living, Inc. (NYSE: BKD) issued troubling guidance.

HCP guided its fiscal 2016 FFO (Funds From Operations) per share to be in a range of $2.74 to $2.80. HCP's FFO for the full fiscal year 2015 was $2.72 per share.

Related Link: A Checkup On A Big Healthcare ETF

Brookdale Senior also issued 2016 guidance, and the company expects its full year fiscal 2016 CFFO to be in a range of $2.45 to $2.55 per share. The company's estimates fell short of the $2.62 per share Wall Street analysts were already estimating.

Shares of HCP were lower by more than 15 percent on Tuesday and hit a new 52-week low of $28.69, while shares of Brookdale Senior Living were also lower by around 15 percent and hit a new 52-week low of $11.28.

A source familiar with the matter told Benzinga that both HCP and Brookdale's poor guidance were pushing healthcare REITs lower on Tuesday.

Latest Ratings for BKD

DateFirmActionFromTo
Jan 2017Wells FargoUpgradesMarket PerformOutperform
Nov 2016JefferiesDowngradesBuyHold
Nov 2016Wells FargoDowngradesOutperformMarket Perform

View More Analyst Ratings for BKD
View the Latest Analyst Ratings

Posted-In: Analyst Color Biotech News REIT Guidance Health Care Exclusives Analyst Ratings Best of Benzinga

 

Related Articles (BKD + HCP)

View Comments and Join the Discussion!