HCP, Inc. (HCP) Tops Q3 FFO by 1c; Updates FY16 FFO Outlook

UPDATE: Stifel Upgrades HCP (HCP) to Hold

(Updated - November 2, 2016 10:55 AM EDT)

Stifel upgraded HCP (NYSE: HCP) from Sell to Hold with a price target of $31.

"We are upgrading our rating to Hold following the completion of the QCP spin-off of skilled nursing assets which were an overhang on... More

HCP, Inc. (HCP) Announces ~$1.13B Property Portfolio Sale to Brookdale

HCP (NYSE: HCP) announced that it has entered into definitive agreements to sell a portfolio of 64 properties leased to Brookdale Senior Living, Inc. ("Brookdale") for an aggregate sales price of $1.125 billion to affiliates of Blackstone Real Estate Partners VIII L.P. (collectively, "Blackstone"). HCP intends to use the proceeds primarily to pay down debt and for general corporate purposes. In addition, HCP and Brookdale have agreed to complete several other transactions, as outlined below. Combined, these transactions will advance our strategic priorities to reduce Brookdale concentration, improve lease coverage, diversify our operator relationships and... More

Brookdale Senior Living (BKD) to Acquire Minority Stake in HCP, Blackstone Acquisition Portfolio

Brookdale Senior Living Inc. (NYSE: BKD) announced that it has entered into a definitive agreement with affiliates of Blackstone Real Estate Partners VIII L.P. (collectively "Blackstone") to acquire a 15% ownership interest in a joint venture that intends to acquire a portfolio of 64 communities currently leased to Brookdale by HCP, Inc. ("HCP"). Upon completion of the acquisition of the assets, Brookdale will manage the communities on behalf of the joint venture.

Additionally, the Company announced that it has entered into a definitive agreement with HCP for a multi-part transaction involving, among other things,... More