We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
HCP Hands Over Management of 24 Senior Housing to Atria
Read MoreHide Full Article
Twenty-four senior living communities owned by HCP Inc. (HCP - Free Report) are shifting their operator from Brookdale Senior Living to Atria Senior Living. The transition, which awaits a few regulatory approvals, will start from this month and is likely to be accomplished by September 2018.
HCP has been continually trying to reduce its exposure to Brookdale. This is because, Brookdale, which is one of the largest senior living providers in the nation, has been facing operational and financial challenges for the past few years.
Once it is completed, the dealings will benefit the company in a number of ways. It will considerably decrease Brookdale’s concentration, increase lease coverage of their remaining triple-net assets leased to Brookdale, improve the diversification of tenants in the portfolio and enhance credit profile and balance sheet.
Louisville, Kentucky-based Atria has been operating over 200 communities. HCP already has an on-going relationship with Atria, as it currently manages six properties owned by them.
Per Tom Herzog, President and Chief Executive Officer at HCP, feels that they are meaningfully growing their existing relationship with Atria. He further added, "Atria has a proven track record of providing outstanding care for residents and strong property operating performance for owners. We have been discussing ways to grow together and this agreement is a win-win for both organizations."
Shares of HCP have underperformed its industry in the past three months. During this time, the stock has declined 16.9% compared with industry’s decline of 11.5%
A few better-ranked stocks from the real estate space include HFF, Inc. (HF - Free Report) , CBRE Group, Inc. and FirstService Corp. (FSV - Free Report) .
HFF’s earnings per share estimates for 2018 have been revised 22.6% upward to $2.88 over the past month. The stock has gained 3.1% during the past three months. It sports a Zacks Rank of 1.
CBRE Group’s Zacks Consensus Estimates for 2018 earnings per share have been revised 5.3% upward to $2.98 over the past month. Also, it carries a Zacks Rank #2 (Buy). Its share price has risen 6.7% in three months’ time.
FirstService Corporation’s earnings per share estimates for the current year have inched up 17.8% to $2.65 in a month’s time. Its shares have lost 0.5% over the past three months. The stock has a Zacks Rank of 2.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Image: Bigstock
HCP Hands Over Management of 24 Senior Housing to Atria
Twenty-four senior living communities owned by HCP Inc. (HCP - Free Report) are shifting their operator from Brookdale Senior Living to Atria Senior Living. The transition, which awaits a few regulatory approvals, will start from this month and is likely to be accomplished by September 2018.
HCP has been continually trying to reduce its exposure to Brookdale. This is because, Brookdale, which is one of the largest senior living providers in the nation, has been facing operational and financial challenges for the past few years.
Once it is completed, the dealings will benefit the company in a number of ways. It will considerably decrease Brookdale’s concentration, increase lease coverage of their remaining triple-net assets leased to Brookdale, improve the diversification of tenants in the portfolio and enhance credit profile and balance sheet.
Louisville, Kentucky-based Atria has been operating over 200 communities. HCP already has an on-going relationship with Atria, as it currently manages six properties owned by them.
Per Tom Herzog, President and Chief Executive Officer at HCP, feels that they are meaningfully growing their existing relationship with Atria. He further added, "Atria has a proven track record of providing outstanding care for residents and strong property operating performance for owners. We have been discussing ways to grow together and this agreement is a win-win for both organizations."
Shares of HCP have underperformed its industry in the past three months. During this time, the stock has declined 16.9% compared with industry’s decline of 11.5%
HCP currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stocks Worth a Look
A few better-ranked stocks from the real estate space include HFF, Inc. (HF - Free Report) , CBRE Group, Inc. and FirstService Corp. (FSV - Free Report) .
HFF’s earnings per share estimates for 2018 have been revised 22.6% upward to $2.88 over the past month. The stock has gained 3.1% during the past three months. It sports a Zacks Rank of 1.
CBRE Group’s Zacks Consensus Estimates for 2018 earnings per share have been revised 5.3% upward to $2.98 over the past month. Also, it carries a Zacks Rank #2 (Buy). Its share price has risen 6.7% in three months’ time.
FirstService Corporation’s earnings per share estimates for the current year have inched up 17.8% to $2.65 in a month’s time. Its shares have lost 0.5% over the past three months. The stock has a Zacks Rank of 2.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>