Key Developments: HCP Inc (HCP.N)

HCP.N on New York Stock Exchange

42.28USD
23 Jul 2014
Price Change (% chg)

$0.11 (+0.26%)
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Latest Key Developments (Source: Significant Developments)

HCP Inc reaffirms FY 2014 FFO guidance
Tuesday, 6 May 2014 08:00am EDT 

HCP Inc:Expects FY 2014 FFO to range between $2.96 and $3.02 per share and EPS to range between $2.04 and $2.10 per share.FY 2014 FFO per share of $3.02 - Thomson Reuters I/B/E/S.  Full Article

HCP declares quarterly cash dividend on common stock
Thursday, 1 May 2014 04:05pm EDT 

HCP Inc:Declares quarterly common stock cash dividend of $0.545 per share.Dividend will be paid on May 27, to stockholders of record as of the close of business on May 12.  Full Article

Brookdale Senior Living and HCP expand relationship by creating $1.2 bln CCRC joint venture
Wednesday, 23 Apr 2014 05:35pm EDT 

Brookdale Senior Living:Says the company and HCP announced an agreement to create a new strategic joint venture that will own and operate entry fee continuing care retirement communities.Says at inception, the joint venture will own 14 CCRC campuses valued at $1.2 billion, with Brookdale continuing to manage these communities.In addition, the companies have agreed to amend leases on 202 HCP-owned senior housing communities currently operated by Emeritus Corporation.Closing of these transactions is conditioned upon the closing of the pending merger between Brookdale and Emeritus.  Full Article

HCP Inc increases credit facility to $2.0 bln
Monday, 31 Mar 2014 04:05pm EDT 

HCP Inc:Increased its credit facility by $500 mln to $2.0 bln.Amended facility reduces company's funded interest cost by 17.5 basis points and extends maturity date to March 31, 2018.  Full Article

HCP Inc prices $350 mln of 4.20% senior unsecured notes due 2024
Wednesday, 12 Feb 2014 04:10pm EST 

HCP Inc:Priced an offering of $350 mln of 4.20% senior unsecured notes due 2024.Says the offering size was increased in response to investor demand.Says the price to investors was 99.537 pct of the principal amount of the notes representing a yield-to-maturity of 4.257 pct.Says the net proceeds from the offering after expenses are about $344.9 mln.Says the proceeds will be used to repay $240 mln outstanding under HCP's bank line of credit.Says intends to use the remaining net proceeds raised in this offering for general corporate purposes.Says the offering is expected to close on Feb. 21.Says Goldman, Sachs & Co., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering.  Full Article

Kindred Healthcare Inc's subsidiaries acquires Real Estate Associated with Two Leased Nursing Centers From HCP
Tuesday, 11 Feb 2014 05:00pm EST 

Kindred Healthcare Inc:Says its subsidiaries have completed the previously announced acquisition of real estate associated with two nursing centers that it currently leases from HCP, Inc.Says the amount paid is about $22 mln.  Full Article

HCP Inc gives FY 2014 FFO guidance below analysts' estimates
Tuesday, 11 Feb 2014 08:00am EST 

HCP Inc:Says FY 2014 guidance, not including the impact of potential future acquisitions, for FFO per share is $2.96 - $3.02; FAD per share is $2.47 - $2.53; and earnings per share is $2.04 - $2.10.FY 2014 FFO of $3.04 - Thomson Reuters I/B/E/S.  Full Article

HCP Inc declares increased quarterly cash dividend on common stock
Thursday, 30 Jan 2014 05:26pm EST 

HCP Inc:Says its Board of Directors declared an increased quarterly cash dividend of $0.545 per share on its common stock.Says quarterly cash dividend will be paid on Feb. 25 to stockholders of record as of the close of business on Feb. 10.  Full Article

HCP Inc And Tenet Extend Leases For Three Acute Care Hospitals
Thursday, 21 Nov 2013 04:05pm EST 

HCP Inc and Tenet Healthcare Corporation announced that they have reached an agreement to modify and extend three acute care hospital leases. The hospitals are Palm Beach Gardens Medical Center in Palm Beach Gardens, Florida, North Fulton Hospital in Roswell, Georgia, and Frye Regional Medical Center in Hickory, North Carolina. Together, they represent 656 licensed beds. The leases were extended at current rent levels and contain annual CPI-based escalators under staggered terms from three to eight years with purchase options exercisable for a fixed price at the end of each term.  Full Article

HCP Inc Prices $800 Million of 4.25% Senior Unsecured Notes Due 2023
Tuesday, 5 Nov 2013 04:11pm EST 

HCP Inc announced that it has priced an offering of $800 million of 4.25% senior unsecured notes due 2023. The offering size was increased in response to investor demand. The price to investors was 99.540% of the principal amount of the notes representing a yield-to-maturity of 4.307%. The net proceeds from the offering after expenses are approximately $789 million and will be used to pay at maturity the $400 million of 5.65% senior unsecured notes due December 15, 2013. The remaining net proceeds will be used to repay amounts outstanding under bank line of credit and for general corporate purposes. The offering is expected to close on November 12, 2013, subject to customary closing conditions. Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, RBS Securities Inc., Credit Agricole Securities (USA) Inc. and RBC Capital Markets, LLC acted as joint book-running managers for the offering.  Full Article

Fitch Affirms HCP's IDR at 'BBB+'; Outlook Stable

(The following statement was released by the rating agency) NEW YORK, April 07 (Fitch) Fitch Ratings has affirmed the ratings of HCP, Inc. (NYSE: HCP) as follows: --Long-term IDR at 'BBB+'; --Unsecured bank credit facility at 'BBB+'; --Unsecured term loan at 'BBB+'; --Senior unsecured notes at 'BBB+'. The Rating Outlook is Stable. KEY RATING DRIVERS The ratings reflect HCP's credit strengths, namely: the steady and predictable cash flows from a large portfolio of healthcare properties, maint

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