HCP, Inc. http://www.alacrastore.com/company-snapshot/HCP_Inc-1007803 Tuesday, October 14, 2008 5:54:45 AM 1007803 HCP, Inc. en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/ccbn/T1970696ccbn/T1970696norm... - Bank of America - AnalystThank you for joining us this morning, this is the presentation for HCP. My name is Dustin Pizzo, I am the multi-family and healthcare analyst over at B of A. And here with me on the podium this morning is HCP's Chairman and CEO, Jay Flaherty. If you're still not familiar with the format by now, we're going to run through a presentation and then with what time we have left in here, we'll go to some brief Q&A followed up by more extensive Q&A in the -- I think it's the Promenade Room, which is upstairs to your left afterwards. And just quickly before we start, I just need to read the public appearance statement. As you're aware, we're required to make a number of conflict of interest and related disclosures in connection with our participation in the conference. If you would like to review these disclosures, please pick up the packets in the back of the room, and if you are on the webcast you can download the .PDFs as well. And with that, I will turn it over... 9/16/2008 4:06:00 PMHCP, INC.54.0000FinalHCP, INC. at Bank of America Securities Annual Investment Conference TranscriptHCP10:30am PTTranscriptT1970696Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/spcred/671070spcred/671070normThe latest News from S&Pglobalstructured9/12/2008 6:27:00 PM100News671070United StatesSpecialized REIT'sEurope, Middle East, AfricaUnited StatesGlobal IssuersStructured FinanceCorporationsReal Estate CompaniesNewsNEW YORK (Standard&Poor's) Sept. 12, 2008--Standard&Poor's Ratings Services today revised its outlook on HCP Inc. to stable from negative. At the same time, we affirmed our 'BBB' corporate credit rating as well as the ratings on roughly $4.1 billion of securities. "The outlook revision acknowledges HCP's successful equity offerings and asset sales, which facilitated a sharp reduction in short-term debt and mitigated much of our concern regarding the company's near-term refinancing risk," said Standard&Poor's credit analyst James Fielding. HCP's well-diversified portfolio of high-quality health care properties, which we expect to provide relatively stable cash flow even as the economy slows, continues to support the ratings. However, the company maintains a very large mezzanine debtUSA42191540414L42217J40402070 404020 4040 40HCP Inc.108648EUROMIDAFRUSAHCPNEWSGLOBISSSTRUCCORPRECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/671071spcred/671071normThe latest Research Update from S&Pglobalstructured9/12/2008 6:27:00 PM175Research Update671071United StatesSpecialized REIT'sEurope, Middle East, AfricaUnited StatesGlobal IssuersStructured FinanceCorporationsReal Estate CompaniesResearch UpdateOn Sept. 12, 2008, Standard&Poor's Ratings Services revised its outlook on HCP Inc. to stable from negative. At the same time, we affirmed our 'BBB' corporate credit rating as well as the ratings on roughly $4.1 billion of securities (see list). The outlook revision acknowledges HCP's successful equity offerings and asset sales, which facilitated a sharp reduction in short-term debt and mitigated much of our concern regarding the company's near-term refinancing risk. HCP's well-diversified portfolio of high-quality health care properties, which we expect to provide relatively stable cash flow even as the economy slows, continues to support the ratings. However, the company maintains a very large mezzanine debt investment that we view as less leverageable relative to itsUSA42191540414L42217J40402070 404020 4040 40HCP Inc.108648EUROMIDAFRUSAHCPRESUPDGLOBISSSTRUCCORPRECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/ccbn/T1889911ccbn/T1889911norm...Good day ladies and gentlemen and welcome to the first quarter #### HCP earning conference call. My name is Erica and I will be your coordinator for today. (OPERATOR INSTRUCTIONS) Now I would like to turn the presentation over to your host for today's conference call, Mr. Ed Henning, HCP's EVP and General Counsel. You may go ahead, sir. ... 8/5/2008 2:22:00 PMHCP, INC.106.0000FinalQ2 2008 HCP, INC. Earnings Conference Call TranscriptHCP12:00pm ETTranscriptT1889911Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/fitch/395688_report_framefitch/395688_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Aimco Properties L. P.AMB Property CorporationAMB Property, L.P.Apartment Investment & Management CoBoston Properties Limited PartnershipBoston Properties, Inc.Brandywine Operating Partnership, L.P.Brandywine Realty TrustBRE Properties, Inc.Brookfield Asset Management Inc.Camden Property TrustCamden Summit Partnership LPCentro NP LLCColonial Properties TrustColonial Realty Limited PartnershipDevelopers Diversified Realty CorporationDuke Realty CorporationDuke Realty Limited PartnershipEastGroup PropertiesEquity Residential Properties TrustERP Operating Limited PartnershipFirst Industrial Realty Trust, Inc.First Industrial, L.P.General Growth Properties, Inc.GGP Limited PartnershipHCP, Inc.Health Care REIT, Inc.Healthcare Realty Trust Inc.Highwoods Properties, Inc.Highwoods Realty Limited PartnershipHome Properties Inc.iStar Financial Inc.Liberty Property Limited PartnershipLiberty Property TrustMack-Cali Realty CorporationMack-Cali Realty, L.P.National Retail Properties, Inc.Nationwide Health Properties, Inc.Pennsylvania Real Estate Investment TrustPrice Development Company Limited PartnershipProLogisPS Business Parks LPPS Business Parks, Inc.Public Storage, Inc.Realty Income CorporationReckson Operating Partnership, L.P.Regency Centers CorporationRegency Centers, L.P.Shurgard Storage Centers, Inc.Simon Property Group, Inc.Simon Property Group, L.P.Sovran Acquisition Limited PartnershipSovran Self Storage, Inc.The Rouse Company LPThornburg Mortgage Inc.Urstadt Biddle PropertiesVentas, Inc.Vornado Realty Trust8008926880089347800893838008944480089493800895098008990580089924800900778009007880090153800903008009042680090511800905228009052380090602800906038009180880091809800918108009181180091814800918158009181680091822800918248009182580091827800918288009183180091832800918348009183580091836800920858009211280357590804106208041176880681518808144028082065180908478809928778122348781649915819035478193952281943719819457458195151981952579819535198195493981962540819705218215015483497866848194718/5/2008 2:19:00 PM01000000010102100102000001040000275NewsletterAIVAMBBAM.ABDNBREBXPCLICLPCPTDDRDREEGPEQRFRGGPHCNHCPHIWHMEHRLRYNHPNNNOPEIPLDPSAPSBREGSFISPGSSSTMAUBAVNOVTR395688_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/ccbn/T1816931ccbn/T1816931norm... - Credit Suisse - AnalystGood morning, and welcome to the Credit Suisse #### Global Real Estate Conference. My name is Steve Benyik. I am the commercial REIT analyst here at Credit Suisse. We are very happy to have HCP with us here today. I will pass it over to Jay Flaherty, Chairman and CEO, for about ## minutes of opening remarks, after which I will start the Q&A, and we will open it up to the room for questions. With that, please begin. ... 7/16/2008 4:55:32 PMHCP, Inc.54.0000HCP, INC. at Credit Suisse Group Global Real Estate ConferenceHCP10:40AM ETTranscriptT1816931Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/ccbn/T1864624ccbn/T1864624norm... - Goldman Sachs - AnalystWell, good afternoon, everyone. We'll just get started. I'm Jay Habermann, I'm the senior analyst at Goldman Sachs covering the REITs. With me today is Jay Flaherty, Chairman and CEO of HCP, Inc., ticker HCP, an S&P ### company focused on health care, and, obviously, health care being defensive with both a growth aspect, we should also point out the Company has a fairly attractive yield in the current environment, so, something important to look at. In terms of HCP, just some quick background. Obviously, largest healthcare REIT, enterprise value of roughly $## billion. The Company has one of the most diversified operating platforms, investing across a broad array of health care industry assets, senior housing, medical office buildings, life sciences, hospitals, as well as skilled nursing facilities. I should also point out that the company does have a development platform as well. I'm going to turn it over to Jay just for a brief introduction. I'll ask a couple... 6/4/2008 7:05:00 PMHCP, INC.54.0000FinalHCP, INC. at National Association of Real Estate Investment Trusts Investor Forum TranscriptHCP2:00pm ETTranscriptT1864624Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/fitch/384762_report_framefitch/384762_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.AMB Property CorporationApartment Investment & Management CoBoston Properties, Inc.BRE Properties, Inc.Camden Property TrustCentro NP LLCColonial Properties TrustDevelopers Diversified Realty CorporationDuke Realty CorporationEastGroup PropertiesEquity Residential Properties TrustGeneral Growth Properties, Inc.HCP, Inc.Health Care REIT, Inc.Healthcare Realty Trust Inc.Highwoods Properties, Inc.Home Properties Inc.Host Hotels & Resorts IncIrvine Apartment Communities, LPiStar Financial Inc.Liberty Property TrustMack-Cali Realty CorporationNational Retail Properties, Inc.Pennsylvania Real Estate Investment TrustProLogisPS Business Parks, Inc.Public Storage, Inc.Realty Income CorporationReckson Operating Partnership, L.P.Regency Centers CorporationSimon Property Group, Inc.Sovran Self Storage, Inc.Thornburg Mortgage Inc.Urstadt Biddle PropertiesVentas, Inc.10100006928008944480089445800894938008990580089924800900788009042680090603800918088009181080091811800918148009181580091816800918228009182580091827800918288009183480091836800921128041062080681518808144028082065180908478812234878164991581945745819515198195257981954939819625408197052183497866839180665/1/2008 2:18:00 PM01000000010102100103000001032100275NewsletterAIVAMBBREBXPCLICLPCPTDDRDREEGPEQRGGPHCNHCPHIWHMEHRHSTLRYNNNOPEIPLDPSAPSBREGSFISPGSSSTMAUBAVTR384762_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/ccbn/T1814775ccbn/T1814775norm...Good day ladies and gentlemen and welcome to the first quarter #### HCP earnings conference call. I will be the operator for today. We will conduct a question and answer session towards the end of this conference. (OPERATOR INSTRUCTIONS) I would now like to turn the presentation over to your host for today's call, Mr. Ed Henning, HCP's Executive Vice President and General Counsel. You may proceed. ... 4/29/2008 2:06:00 PMHCP, INC.54.0000FinalQ1 2008 HCP, INC. Earnings Conference Call TranscriptHCP12:00pm ETTranscriptT1814775Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/fitch/381080_report_framefitch/381080_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Apartment Investment & Management CoGeneral Growth Properties, Inc.HCP, Inc.Simon Property Group, Inc.800918108009181680092112804106204/2/2008 10:14:32 AM01010210275Special ReportAIVGGPHCPSPG381080_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/ccbn/T1737873ccbn/T1737873normQ# #### HCP, INC. Earnings Conference Call2/12/2008 2:06:00 PMHCP, INC.54.0000FinalQ4 2007 HCP, INC. Earnings Conference Call TranscriptHCP12:00pm ETTranscriptT1737873Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/moodys/COP_364783moodys/COP_364783htmlGlobal Credit Research Credit Opinion ## JUN #### Credit Opinion: HCP, Inc. HCP, Inc. Long Beach, California, United States Ratings Category Moody's Rating Outlook Stable Senior Unsecured Baa# Preferred Stock Ba# Preferred Shelf (P)Ba#...1/2/2008 7:28:00 PMhtmlHCP, Inc.HCP, Inc.364783150.0000NewsCredit OpinionCOP_364783Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/spcred/622807spcred/622807normThe latest News from S&P12/26/2007 1:20:34 PMNews100globalstructured622807United StatesSpecialized REIT'sEurope, Middle East, AfricaUnited StatesGlobal IssuersStructured FinanceCorporationsReal Estate CompaniesNewsNEW YORK (Standard&Poor's) Dec. 26, 2007--Standard&Poor's Ratings Services today revised its outlook on HCP Inc. to negative from stable. At the same time, we affirmed our 'BBB' corporate credit rating and all existing debt ratings on the company. The rating actions affected roughly $4.2 billion of rated debt and preferred securities. "The outlook revision acknowledges an increasingly opportunistic and more aggressive investment and financing strategy for this large, diversified health care REIT," said Standard&Poor's credit analyst George Skoufis. "Our rating actions follow HCP's announcement that it will draw on its revolver to fund a sizable investment in the first-loss tranches of the $4.6 billion in property-related debt that is part of the financing forUSA42217J42191540414L40402070 404020 4040 40HCP Inc.108648EUROMIDAFRUSAHCPNEWSGLOBISSSTRUCCORPRECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/622808spcred/622808normThe latest Research Update from S&P12/26/2007 1:20:34 PMResearch Update175structuredglobal622808United StatesSpecialized REIT'sEurope, Middle East, AfricaUnited StatesGlobal IssuersStructured FinanceCorporationsReal Estate CompaniesResearch UpdateOn Dec. 26, 2007, Standard&Poor's Ratings Services revised its outlook on HCP Inc. to negative from stable. At the same time, we affirmed our 'BBB' corporate credit rating and all existing debt ratings on the company (see list). The rating actions affected roughly $4.2 billion of rated debt and preferred securities. The outlook revision acknowledges an increasingly opportunistic and more aggressive investment and financing strategy for this large, diversified health care REIT. Our rating actions follow HCP's announcement that it will draw on its revolver to fund a sizable investment in the first-loss tranches of the $4.6 billion in property-related debt that is part of the financing for the leveraged buyout of Manor Care Inc. (now HCR HealthCareUSA42217J42191540414L40402070 404020 4040 40HCP Inc.108648EUROMIDAFRUSAHCPRESUPDGLOBISSSTRUCCORPRECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/ccbn/T1659265ccbn/T1659265norm10/30/2007 2:07:00 PMHCP, INC.54.0000FinalQ3 2007 HCP, Inc. Earnings Conference Call TranscriptHCP12:00pm ET...Good day, ladies and gentlemen, and welcome to the third-quarter #### HCP earnings conference call. My name is Mike, and I'll be your coordinator for today. At this time, all participants are in a listen-only mode. (OPERATOR INSTRUCTIONS) Please be advised we will be taking questions at the conclusion of the presentation and this call is being recorded for replay purposes. I would like to turn the presentation over to your host for today's conference, Mr. Ed Henning, HCP's Executive Vice President and General Counsel. You may go ahead, sir. ... TranscriptT1659265Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/srp/22597srp/22597norm...Address:#### MacArthur Court, Suite ###, Newport Beach, California ##### Incorporated:MarylandWeb Site: www.hcpi.comSIC Classification: Real Estate Investment Trusts (####) Business Description: HCP, Inc. is a real estate investment trust that invests in health care related real estate located throughout the United States, including long-term care facilities, congregate care and assisted living facilities, acute care and rehabilitation hospitals, medical office buildings, health care laboratory and biotech research facilities and physician group practice clinics. Indices:Russell ####, Russell ####, S&P ### ... 2259740414L109HCP10/6/2006 12:31:00 PM22597Credit & Investment ResearchSharkRepellent.net