HCP expects full-year results above expectations

The company expects funds from operations to be between $2.31 and $2.35 per share, or $2.38 and $2.42 per share excluding acquisition-related charges and impairment charges.

FFO, which adds such items as amortization and depreciation back to net income, is considered a key measure of REIT strength because it gives a more accurate picture of cash performance.

Analysts polled by Thomson Reuters, on average, predict funds from operations of $2.29 per share. Analyst estimates typically exclude one-time items.

Shares added $1.50, or 5.4 percent, to $29.05 in late-afternoon trading.