Last week, HCP (the “Company”) (NYSE:HCP – News) announced results for the quarter ended December 31, 2008. Funds from operations (“FFO”) applicable to common shares was $121.5 million, or $0.48 per diluted share, for the quarter ended December 31, 2008, compared to FFO applicable to common shares of $117.2 million, or $0.54 per diluted share, in the year-ago period. FFO applicable to common shares was $538.3 million, or $2.25 per diluted share, for the year ended December 31, 2008, compared to FFO applicable to common shares of $449.1 million, or $2.14 per diluted share, in the year-ago period. The company expects that its FFO for 2009 will be between $2.15 and $2.21 per diluted share versus $2.25 for the 2008 fiscal year. During the conference call, HCP stated that the occupancy for HCP’s senior housing portfolio is 89.3% and represents a 40 basis point decline quarter-over-quarter and is the fourth consecutive quarterly decline.
During the 4th quarter, the Company made investments aggregating $35 million through the purchase of debt securities and funding of construction and other capital projects, and sold four properties with an aggregate value of $13 million.
For the full earnings press release, click here and for the transcript from the fourth quarter analyst call, click here.
