Dividends4Life: HCN Combines Megatrends and Dividends

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HCN Combines Megatrends and Dividends

Posted by D4L | Thursday, March 06, 2014 | | 0 comments »

The normally sleepy world of senior housing REITs got a shakeup on Wednesday with the announcement that Health Care REIT (HCN) and Revera Inc., a leading provider of senior living facilities in Canada, had partnered to purchase and recapitalize Sunrise Senior Living, LLC from affiliates of private equity firm Kohlberg Kravis Roberts & Co (KKR). The acquisition should be a good fit for Health Care REIT, one of the largest REITs in the healthcare and senior living sectors, and completes an earlier investment in Sunrise’s property portfolio. All in all, there’s a lot to like about this move and what it means for HCN stock.

Truth is, there aren’t that many “pure” plays on the senior living theme. The deceptively named Senior Housing Properties Trust (SNH) has about 30% of its property portfolio in medical office buildings, as a for-instance. Omega Healthcare Investors (OHI) is a more focused option, getting virtually all of its revenues from skilled nursing an assisted living facilities. It also happens to pay one of the highest dividend yields on offer at 6.4% and has doubled its dividend over the past seven years. So, considering the lack of absolutely pure plays out there, I consider HCN stock a decent option in a diversified REIT portfolio.

Source: InvestorPlace

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