MPW pulled a little bit of a rope-a-dope today, as it started a little sluggish, gave the impression that it was settled into a rhythm, and then exploded into the last few sections of the trading day.
MPW opened at a humble, 9.54, and was chomping at its bit early spiking up, but then coming back down and following into its sort of plateau style pattern. This was all well and good, MPW seemed to be pretty much frozen to its lower bollinger band ranger for a decent part of the day around noon. At about 3:45 however, as usual, MPW regained a certain flicker in its eyes. Out of nowhere MPW exploded strait up to 9.62 from 9.578. Once it had found a new toe hold, it grabbed for higher heights again, foiling all doubters and claiming yet another positive cent to finish the day.
As usual SBRA also had a good showing, opening at 16.25, and then exploding up in the last 15 mins up from 16.36 up to 16.85. All things considered today, SBRA was up by 3.76 percent and MPW was up by 1.26%. Thus today healthcare Reit activity looked alot like a marathon finish, with the favourites winning with significant space in between themselves and "the pack".
Today was not as good a day from the marekts over all with the DJ down .15%, and the S&P down .04%. As another interesting topic of note, today SBRA's beta and institutional ownership levels hit the same levels, with a beta 0f .86, and a similar % for institutional ownership levels.
The rest of the healthcare Reits were in decent form, with only VTR and HCP finishing the day down. Even though they finished the day down, they still showed a little bit of an interesting phenomenon with the amount that they lost. VTR finished the day down 22 cents, and HCP finished the day down, 11 cents. Thus their prices were down in multiples of 11. Interestingly enough, the percentage lost showed a unique correlation, with VTR down .38% and HCp down .27%, similar percentages seperated by........ .11%.
Today had a surprising and spirited finish for MPW and SBRA, and it was certainly one of the more positive pattents to see.