Healthcare real estate investment trust HCP (NYSE: HCP) announced first-quarter earnings that met expectations, but with one big surprise for shareholders. After posting a loss last quarter thanks to a writedown at its HCR ManorCare unit, the company has decided to spin off that part of its business into a newly created REIT and focus on its core business. Here are the details of HCP’s quarter, and what shareholders need to know about the spinoff.