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

Posted by shaferfinancial in Finance.
Tags: ,

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.



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