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Shares of HCP, Inc. (NYSE:HCP) fell 1% to $29.71 in opening session after the on Tuesday said third-quarter funds from operations, a key profitability measure for real estate investment trusts, fell to 11 cents a share from 70 cents in the year-ago period. The S&P 500 constituent said the latest quarter's FFO was 52 cents a share before impairments and a charge related to an accrued liability in connection with a jury verdict in the Ventas litigation. For the full year, HCP forecast FFO in the range of $1.65 and $1.71 a share, after impairments and litigation provision.
HCP, Inc. (HCP) is a real estate investment trust (REIT), focusing primarily on properties serving the healthcare industry. The Company acquires, develops, leases, disposes and manages healthcare real estate and provide mortgage and financing to healthcare providers.
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