Health Care REIT; New News March 1, 2011Posted by shaferfinancial in Finance.
Tags: HCN, Health Care REIT [HCN]
Health Care REIT (HCN) agreed yesterday afternoon to buy the real estate assets of privately-held rehab facility and nursing home operator Genesis HealthCare for $2.4B. The assets include 147 post-acute, skilled nursing and assisted living properties in 11 states. So they blew by their $1.5B dollar acquisition guidance for 2011 in the second month. Also explains why they were so conservative in raising their dividend. HCN has a history of getting good returns on their acquisitions; hopefully this is another one.