WASHINGTON (dpa-AFX) - HCP Inc. (HCP) reported that its Funds From Operations or FFO applicable to common shares for the second-quarter declined to $305.50 million from $339.88 million in the prior year. FFO per common share was $0.65 down from $0.73 in the previous year.
FFO as adjusted per common share increased to $0.79 from $0.75 in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.76 per share for the quarter. Analysts' estimates typically exclude special items.
Net income applicable to common shares for the quarter declined to $164.52 million and $0.36 per share from $218.40 million and $0.48 per share in the year ago quarter.
Total revenues for the quarter rose to $607.53 million from $536.12 million last year. Wall Street expected revenues of $585.32 million.
On July 30, 2015, the company's Board of Directors declared a quarterly cash dividend of $0.565 per common share. The dividend will be paid on August 25, 2015 to stockholders of record as of the close of business on August 10, 2015.
For full year 2015, it expects FFO per share to be between $1.97 and $2.03; FFO as adjusted per share to range between $3.14 and $3.20; FAD per share to range between $2.68 and $2.74; and earnings per share to range between $0.75 and $0.81. Analysts expect annual earnings of $3.10 per share.
Copyright RTT News/dpa-AFX
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