On 12/27/13, Health Care REIT Inc.'s 6.50% Series I Cumulative Convertible Perpetual Preferred Stock (HCN.PRI) will trade ex-dividend, for its quarterly dividend of $0.8125, payable on 1/15/14. As a percentage of HCN.PRI's recent share price of $52.05, this dividend works out to approximately 1.56%, so look for shares of HCN.PRI to trade 1.56% lower — all else being equal — when HCN.PRI shares open for trading on 12/27/13. On an annualized basis, the current yield is approximately 6.25%, which compares to an average yield of 7.82% in the "Real Estate" preferred stock category, according to Preferred Stock Channel.
As of last close, HCN.PRI was trading at a 4.00% premium to its liquidation preference amount. It should be noted that the preferred shares are convertible, with a conversion ratio of 0.846. The chart below shows the one year performance of HCN.PRI shares, versus HCN:
Below is a dividend history chart for HCN.PRI, showing historical dividends prior to the most recent $0.8125 on Health Care REIT Inc.'s 6.50% Series I Cumulative Convertible Perpetual Preferred Stock:
According to the ETF Finder at ETF Channel, Health Care REIT Inc. (HCN) makes up 5.80% of the Active U.S. Real Estate Fund ETF (PSR) which is trading higher by about 0.1% on the day Thursday.