WASHINGTON (dpa-AFX) - HCP, Inc. (HCP) Tuesday released the financial results for the first quarter ended March 31, 2012, reporting diluted FFO applicable to common shares of $264.81 million or $0.64 per share, higher than FFO of $149.69 million or $0.40 per share reported for the corresponding quarter last year.
FFO applicable to common shares for the first quarter increased to $275.24 million from $181.99 million in the same quarter last year.
FFO as adjusted per share for the first quarter were $0.67, up from $0.56 in the corresponding quarter last year.
On average, 17 analysts polled by Thomson Reuters expected the company to report earnings of $0.66 per share. Analysts' estimates typically exclude special items.
Net income applicable to common shares was $175.27 million or $0.43 per diluted share, sharply higher than net income of $63.87 million or $0.17 per diluted share reported for the year-ago quarter.
Total revenues for the first quarter increased to $459.01 million from $331.13 million in the prior-year quarter. Analysts estimated revenues of $462.92 million.
Looking ahead, for the full year 2012, HCP expects FFO applicable to common shares to range between $2.68 and $2.74 per share. Analysts expect the company to earn $2.74 per share.
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