Healthcare REITs Down On Brookdale, HCP 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.
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.
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