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Tuesday, November 03, 2009
HCP Results Hit By Impairments, Litigation
By John Spence
MarketWatch Pulse
BOSTON -- HCP on Tuesday said third-quarter funds from operations, a key profitability measure for real estate investment trusts, fell to 11 cents a share from 70 cents in the year-ago period. The S&P 500 constituent said the latest quarter's FFO was 52 cents a share before impairments and a charge related to an accrued liability in connection with a jury verdict in the Ventas litigation. For the full year, HCP forecast FFO in the range of $1.65 and $1.71 a share, after impairments and litigation provision.
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