jump to navigation

Health Care REIT- HCN- sells $1Billion of stock overnight June 6, 2014

Posted by shaferfinancial in Finance.
Tags: ,
trackback

Regular readers know that I have a long standing ownership of HCN [Health Care REIT] that I have been slowly disposing of. I currently have sold 3/4 of my shares and remain at the level of my original investment. But, someone or more likely some institution really likes the company. Overnight HCN sold $1 Billion of stock at $62.35 [currently priced at $64.05]. It was the largest block of stock sold overnight ever.

I’m not sure what to make of this, because the dividend increases has averaged less than 3% over the last 5 years. That is not acceptable dividend growth in my portfolio, but some people must be thinking that it will accelerate soon. And it could as the last quarter saw a 10% increase in FFO.

Will be interesting to watch how this company and its excellent management perform over the next couple years.

Advertisements

Comments»

No comments yet — be the first.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: