HCP Reports Q3 Results; With QCP Spin-Off Complete, HCP Looks to Start With a Clean Bill of Health
HCP announced the completion of the Quality Care Properties, or QCP, spin-off and reported second-quarter results, with funds from operations per share essentially flat for the quarter, year over year, after adjusting for one-time impairments, transaction-related items, severance, and noncash income. Underlying operating performance remained steady, with 3.1% same-property net operating income growth overall for the quarter, again led by HCP's life science portfolio. The company also announced i...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.
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