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Stock Market & Financial Investment News

News Breaks
January 10, 2013
07:47 EDTHCPHCP Inc. upgraded to Hold from Underweight at KeyBanc
KeyBanc upgraded HCP Inc based on valuation and an improving outlook for its skilled nursing and senior portfolios.
News For HCP From The Last 14 Days
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March 31, 2015
10:01 EDTHCPOn The Fly: Analyst Upgrade Summary
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March 30, 2015
17:38 EDTHCPHCP upgraded to Buy from Neutral at UBS
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16:12 EDTHCPHCP upgraded to Buy from Neutral at UBS
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13:01 EDTHCPOptions with increasing volume
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10:28 EDTHCPHCP sees 2015 adjusted FFO $3.06-$3.12, consensus $3.19
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08:17 EDTHCPHCP, HCR ManorCare amend, extend master lease
HCP (HCP) and HCR ManorCare (CG) have agreed to amend their Master Lease encompassing a portfolio of 333 post-acute, skilled nursing and assisted living facilities owned by HCP. Commencing April 1, HCP will provide an annual net rent reduction of $68M, which equates to initial lease year rent of $473M, compared to $541M that would have commenced April 1, prior to the amendment. The contractual rent will increase by 3.0% annually during the initial term. In exchange, HCP will receive the following consideration: Fee ownership in nine new post-acute facilities valued at $275M with a median age of four years, currently owned and operated by HCRMC; A second lease receivable with an initial amount of $250M, payable by HCRMC upon the earlier of: (i) end of the initial term of the first renewal pool under the Amended Master Lease, or (ii) certain capital or liquidity events of HCRMC, including an IPO or sale. HCP and HCRMC continue to advance their efforts on the previously disclosed marketing of up to 50 non-strategic facilities. The asset sales are expected to be completed in late 2015 to early 2016, and generate net proceeds between $250M-$350M. Based on the previously announced 7.75% yield on sale proceeds to HCP, this will result in an annual rent reduction under the Amended Master Lease between $19M-$27M after completion.

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