Nov. 4, 2014, 7:32 AM
Nov. 3, 2014, 5:30 PM
- AER, AFSI, AKS, ALLT, ARCC, ARCO, ARRY, ATRO, AYR, BABA, BDX, BKW, BLMN, CCG, CIE, CLDT, CONE, CVS, DISCA, DISH, DWRE, DX, EL, EMR, ENBL, EOG, ETR, EXH, EXLP, EXPD, FE, GDP, GLT, HCLP, HCN, HCP, HEP, HMSY, HPT, HSNI, HW, ICE, IFF, IMN, IP, IPXL, IRC, IRWD, KORS, LINC, LINE, LNCE, MFA, MSI, MWW, NCT, NGLS, NNN, NTI, NWN, ODP, OZM, PCLN, PPL, RBA, REGN, RESI, RGS, RHP, RIGL, RRGB, SC, SGNT, SRE, TESO, TGH, TICC, TIME, TLM, TRP, VLO, VMC, VSI, WLK, WNR, WRES, ZBRA, ZTS
Oct. 30, 2014, 6:31 PM
Sep. 12, 2014, 9:36 AM
- The 15.5M share offering priced at $63.75 each, with the underwriters retaining an option to buy another 2.325M shares at that price.
- If the greenshoe is exercised, gross proceeds to Health Care REIT (HCN -3.1%) will be about $1.1B (about $988M if not).
- Source: Press Release
- Previously: Health Care REIT with secondary; details acquisition pipeline
Sep. 11, 2014, 4:29 PM
- Health Care REIT (NYSE:HCN) is offering 15.5M shares with an underwriter greenshoe of another 2.35M shares.
- As for what it might do with that money, the company - based on closings thus far this quarter and signed letters of intent - anticipates acquiring about $1.7B of properties in H2. This includes the already-announced $950M HealthLease Properties deal, and the $257M Gracewell purchase.
- Shares -3.2% AH
Aug. 14, 2014, 8:41 AM
- Health Care REIT (NYSE:HCN) closes on the purchase of 11 seniors housing communities for £153M, or about $257M in cash from Gracewell Healthcare, Sunrise Senior Living - the management company 24% owned by HCN - will separately purchase Gracewell and manage the portfolio going forward.
- Additionally, HCN and Sunrise enter a development deal with Gracewell's founders who will develop more seniors housing communities for HCN to own and for Sunrise to manage.
- Source: Press Release
Aug. 13, 2014, 7:59 AM
- Health Care REIT (NYSE:HCN) agrees to the purchase of HealthLease Properties Real Estate Investment Trust for CAD$14.20 in cash, with the deal valued at about $950M. The HealthLease portfolio includes 53 seniors housing, post-acute care, and long-term care communities. The purchase price represents a 7% initial cash yield and HCN expects it to accretive to FFO per share by about $0.04 in year one.
- HCN also agrees to a partnership with Mainstreet Property Group - the external management company of HealthLease. The deal includes an agreement to acquire 17 state-of-the-art Next Generation communities for about $369M, representing a 7.5% initial cash yield which is expected to be meaningfully accretive. The purchases are expected to close in tranches upon completion of construction beginning in Q4 of this year through Q1 of 2016.
- There's also an agreement for HCN to provide mezzanine financing and receive purchase rights for another 45 Next Generation projects.
- Press release
Aug. 1, 2014, 8:03 AM
- Q2 normalized FFO per share of $1.06 up 14% Y/Y and FAD per share of $0.94 up 15%. Dividend is $0.795.
- Same store NOI growth of 4.4%, led by 7.7% growth in the seniors housing portfolio.
- $579M of gross investments in Q2 includes $455M in acquisitions with blended initial yield of 6.5%.
- Full-year 2014 normalized FFO guidance is lifted by $0.02 to $4.05-$4.15 per share, representing growth of 6-9%. Normalized FAD guidance is lifted by $0.02 to $3.57-$3.67.
- Conference call at 10 ET
- Previously: Health Care REIT beats by $0.04, beats on revenue
- HCN flat premarket
Aug. 1, 2014, 7:33 AM
Jul. 31, 2014, 6:21 PM
Jul. 31, 2014, 5:30 PM
Jul. 29, 2014, 9:51 AM
- The $3.23B unsecured credit facility replaces the previous one of $2.98B. The new financing consists of a $2.5B revolver, a $500M term loan and a C$250M term loan.
- The facility matures in October 2018 and can be extended for another year at the company's option. The revolver bears an interest rate of Libor plus 105 bps, with an annual facility fee of 20 bps.
- Source: Press Release
- HCN -0.75%
Jul. 23, 2014, 7:04 AM| Comment!
Jul. 2, 2014, 7:22 AM
- Citing a preference for more economically-sensitive REIT sectors, Goldman downgrades the Healthcare REIT sector to Neutral from Attractive. Alongside the sector cut, the team downgrades Omega Healthcare Investors (OHI) to Neutral. It's off 1% premarket.
- Among the other names in the sector: HCN, HCP, MPW, HTA, SNH, VTR, LTC, AVIV.
Jun. 5, 2014, 9:56 AM
- "Don't believe everything you read," says Health Care REIT (HCN +0.3%) CEO Tom DeRosa, when asked about his company's reported interest in acquiring non-traded Griffin American Healthcare REIT II. On the other hand, DeRosa isn't exactly upset at being linked to a deal as maybe it pushes up the price "for a bunch of mediocre to poor assets" for a competitor to spend their money on.
- Not naming names, HCP CEO Lauralee Martin isn't impressed with recent deals in the health care REIT space, but one could speculate she's talking about this week's purchase of ARC Healthcare Trust (HCT) by Ventas (VTR), among others.
- Previously: Ventas buying ARC Healthcare Trust in $2.6B deal
May. 28, 2014, 9:36 AM| Comment!
HCN vs. ETF Alternatives
Other News & PR