HCP Reports 2016 Results; Besides Large Transactions, Expect Continued Refocusing Through 2017
HCP reported fourth-quarter and full-year 2016 earnings that were generally in line with our expectations and with the recent guidance the company gave after the QCP spin-off. We do not plan on changing our $31 per share fair value estimate or narrow moat rating. Same-store cash net operating income increased 2.6% for the quarter, year over year. HCP's same-store life science portfolio income grew 4.8% as tenant demand remains high, while same-store seniors housing operating portfolio income inc...HCP is a real estate investment trust which invests in real estate serving the healthcare industry. The company acquires, develops, leases, and manages and disposes of healthcare real estate. The company's segments are: senior housing triple-net and senior housing operating portfolio, which include independent living facilities, assisted living facilities, memory care facilities, and continuing care retirement communities; life science, which contains laboratory and office space for biotechnology, medical device and pharmaceutical companies, scientific research institutions, government agencies and other organizations; and medical office, which contains physicians' offices and examination rooms.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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