HCP Inc. [Healthcare Properties (HCP) Mar. 2009 The company provides the real estate to the healthcare industry : Revenue NOI Senior Housing ............... 34.1% 40.8% Medical Office Buildings .... 30.2% 20.9% Lab / Pharma Buildi ......... 23.7% 24.0% Skilled Nursing Facilities ... 3.5% 4.2% Hospitals ...................... 8.3% 9.8% ..................................................................................................................................... Joel Bloomer, senior equity analyst at Morningstar, is quoted as follows ("REIT Dividend Cuts Loom," 03/04/09, Wall Street Journal): He said among the 70 REITs Morningstar covers, less than 10 could maintain their dividend."But, even those are likely to cut their dividend to preserve capital." But on Feb.02, 2009 the HCP Board declared and raised the dividend to $0.46 per share. For all of 2007 it was $0.445/Q. or $1.78 and 2008 $0.455/Q.or $1.82. While the increase was minimal, the Board did not reduce it. Since this was done recently it says something about how the Board views HCP's current financial condition. Quote= $15.250/sh. dividend= $1.84 yield= 12.0% as of 03/06/09 HCP estimates its FFO for 2009 at $2.15 to $2.21 ......................................................................................................................... 4Q 2008 Earnings Call Transcript - 02/10/09 HCP Supplemental Information - 12/31/08 (See page five for debt maturities) National Investment Center for the Seniors Housing &Care Industry: [Research & Data... Key Financial Indicators] ......................................................................................................................................... Sunrise Senior Living - SRZ = 13% of HCP revenue x 40.8% NOI = 5.3% NOI |
Disclosure: HCP = long + covered calls + cash covered put
