The United States' uncertain, near-term economic prospects, combined with the housing sector's woes, have led many to, understandably, steer clear of real estate investments.

But that does not mean windows of opportunity do not exist, and one worth a review is Health Care Properties, Inc..

HCP (NYSE: HCP) is a self-administered real estate investment trust that invests exclusively in health care real estate throughout the United States.

Analysts like HCP's diverse portfolio, investments in life sciences facilities, and overall rental rates. Another positive: analysts like HCP's portfolio footprint, and modest pricing power, which has enabled it to increase both revenue and earnings at a healthy rate, no pun intended. The Reuters F2008/F2009 EPS consensus estimates for HCP are $2.30/$2.45.

Further, although HCP is expected to deliver low-signal-digit net income growth in F2008, there is a sense building in Wall Street circles that both of the above EPS estimates may be a tad low, and assuming that is the case, the time to consider purchasing HCP's shares is now, not after earnings guidance is raised, should that occur.