HCP

J.P. Morgan is out with its report today on HCP (NYSE: HCP), maintaining Neutral. In a note to clients, J.P. Morgan writes, "We retain our Neutral rating on HCP due to a number of factors. On the valuation front, the stock trades at slight premiums to the health care REIT averages (particularly on...

Morgan Keegan reports that it expects “strong internal NOI growth and a significant benefit going forward from the accretive addition of the HCR ManorCare master lease” from HCP, Inc. (NYSE: HCP). “Various nonrecurring items affect earnings comparability in the first half of the year,” Morgan...

Morgan Keegan is expecting HCP, Inc. (NYSE: HCP) to remain an active acquirer of assets in 2011. “We believe the company could top our projection of $100 million of acquired assets, potentially leading to higher earnings,” Morgan Keegan writes. “Our FFO/share estimate of $0.54 is $0.08 above the...

In a report released this morning, Morgan Keegan provides an analysis of publicly traded healthcare REITs with respect to FFO/FAD, investment composition, and asset coverage ratios. “Since our last report, we have seen four noteworthy large deals: HCP, Inc.'s (NYSE: HCP) $6.1 billion acquisition of...

Citigroup has published a research report on HCP, Inc. (NYSE: HCP) after the company completed its HCR ManorCare acquisition. In the report, Citigroup writes "Fundamentals across HCP's assets continue to perform well, and portfolio guidance for 2011 looks good. With the substantial (and highly...

Morgan Keegan is out with its report today on HCP (NYSE: HCP), raising its price target from $40 to $43. In a note to clients, Morgan Keegan writes, "We are raising our estimates. Our 2011 estimates including the prefunding costs related to debt and equity issued in advance of the Manor Care...

Morgan Keegan has raised the price target on HCP, Inc. (NYSE: HCP) from $40 to $43 and maintains its Outperform rating.

After the close on Wed., 12/15, S&P announced weekly sharecount changes that will be effective after the close on Wed., 12/22, KBW reports. S&P is increasing the sharecounts of First Horizon National Corp. (NYSE: FHN), Huntington Bancshares Inc. (NASDAQ: HBAN), and HCP, Inc. (NYSE: HCP) in...

Goldman Sachs said that while it expected a transaction with HCR ManorCare due to HCP, Inc.'s (NYSE: HCP) significant debt investment, “we believed the timing of any deal would be closer to the associated debt's maturity in 2012/13.” That being said, Goldman Sachs writes, “the potential...

Based on its own preliminary analysis, Jefferies estimates that the HCP, Inc. (NYSE: HCP) deal could be “5-10% accretive to our 2011 and 2012 FFO/sh estimates.” “Our analysis assumes that: 1) the deal is closed at the end 1Q11; 2) the $3.3B bridge loan is financed at 5.5%; and 3) an additional 6M...

HCP, Inc. (NYSE: HCP) is acquiring the remaining 65% interest in a joint venture that owns 25 senior housing assets operated by Horizon Bay. Morgan Keegan believes this could be a game-changer. “HCP's incremental cash investment of $137 million will consolidate the facilities, which generated...