4 Reasons Why You Should Add HCP To Your Portfolio Right Now
Zacks Investment Research | Aug 12, 2019 08:09AM ET
It seems to be a wise decision to add HCP Inc. (NYSE:HCP) to the portfolio at the moment, given the company's continued efforts to reposition its senior housing portfolio as well as lower operator concentration. Moreover, strategic investments in the medical office and life-science real estate properties are expected to drive long-term growth.
Notably, the company delivered better-than-expected results in second-quarter 2019, with FFO as adjusted per share of 44 cents, surpassing the Zacks Consensus Estimate of 43 cents. Further, revenues of $491.6 million outpaced the consensus mark of $447 million. Results were supported by strong performance across all four segments. A stellar quarterly performance also encouraged the company to raise its 2019 FFO as adjusted guidance to $1.73-$1.77 per share from $1.70-$1.76 per share.
HCP’s price performance also seems upbeat. In fact, this Zacks Rank #2 (Buy) stock has gained around 10.9% over the past six months, outperforming 9% growth recorded by the Zacks Investment Research
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