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HCN after the Second Quarter September 9, 2010

Posted by shaferfinancial in Finance, Uncategorized.
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One of my three core holdings is Health Care REIT.  After the second quarter here are my thoughts.

Well on there way to $2B in investments for the year is a great sign

They had the highest interest volume ever this last quarter

The partnership with Merrill Gardens is an excellent addition

Private pay is up to 77% of the portfolio

They continue with their strategy of lowering free-standing nursing homes; down to 14%

Entrance fees are starting to recover with some of the deferred fees being paid off

Medical Office Buildings have a 93% occupancy

FFO up to $.80

Dividend up to $.67 and expected to further rise in the near future

It made it through the recession very well.  The future looks very positive at this point.

The price went up 6% year to date.  With a 5.85% yield it is a little pricy at this point.  However, I am now watching closely and will consider adding to my position over the next quarter.

I still am very high on this equity and it will remain one of my core holdings with my yield on cost over 11%.

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Comments»

1. Joshua - October 26, 2010

David:

Keep up the great work summarizing your positions. It is a real joy to read them as it helps us laypeople understand what the huge reports boil down to.

Thanks!


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