A few days ago after some surprise drama unfolded at HCP, Inc. (HCP), notably the firing of the CEO. I have a rule. When someone gets fired, I want an answer. I believe that HCP's board should have provided investors with a better answer than "it was not stock performance or business performance. I think one of the things that struck us was that we think this platform right now is in very good shape." Give me a break.
My decision to part ways with HCP, Inc. was also driven by the fact that I was already "won over" by HCP's peer, Ventas, Inc. (VTR). Initially I decided to purchase shares in both Ventas and HCP since I consider both to be "blue chip" REITs with exceptional track records for income and growth; however, based upon the risk premium associated with HCP's new CEO, I intend to focus more on Ventas for the time being.
Source: Seeking Alpha
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