Health Care REIT
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Health Care REIT, Inc is the first real estate investment trust devoted exclusively to providing healthcare facilities, and now includes senior housing. This includes continuing care retirement communities, assisted living facilities, skilled nursing facilities, hospitals, long term acute care hospitals and medical office buildings.
Health Care REIT Medical Real Estate
Its stock symbol is HCN, and it was founded in 1970. It now consists of 646 properties in 38 states. These are: 208 assisted living, 227 skilled nursing, 63 independent living/ccrc, 23 specialty care facilities, and 125 medical office buildings. In addition, they provide property management services. They're located in Toledo Ohio.
The ownership of medical office buildings results from their recent merger with Windrose Medical Properties Trust.
For example, they invested $1.2 billion in 2007 (including the Paramount Real Estate Services property management group from Rendina Companies in May, and $488.2 million in the second quarter of 2008. And, they do have a dividend reinvestment program, or DRIP. In November 2007, S&P added them to the MidCap 400 Index. They have paid quarterly dividends for over 30 years in a row. Moodys increased their ratng on senior unsecured debt to Baa2 and Fitch to BBB.
They are looking to keep their facilities up to date with trends in the senior housing field. This includes linking hospitals and medical offices, in partnership with doctors, and to house seniors in communities that aren't just seniors, but part of a wider community, which includes intergenerational interaction.
Health Care REIT is working hard to profit from the aging of the baby boomer generation, which will greatly increase the demand for the types of real estate properties and services it provides.
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