HCP, Inc. – HCP – Bull of the Day
Source: http://www.zacks.com/commentary/11592/HCP%2C+Inc.+-+HCP+-+Bull+of+the+DayPosted on Wednesday, July 22nd, 2009 | In Market Commentary, Stocks to Watch
Contributed by: Zacks Market Commentaries (http://www.zacks.com/) -
HCP, Inc. (HCP) continues to raise cash through asset sales and equity issuance.
The company has done a successful job of delevering and strengthening the balance sheet. With nearly $1.4 billion available on its credit facility, the company has adequate capital to address 2009 and 2010 debt maturities.
We continue our Buy rating. We think healthcare will continue to outperform other REIT sectors in 2009.
The yield is still over 8% and is being covered with operating cash. The current payout is safe, and think HCP is one of the best positioned names.
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