On 3/27/14, 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 4/15/14. As a percentage of HCN.PRI's recent share price of $55.35, this dividend works out to approximately 1.47%, so look for shares of HCN.PRI to trade 1.47% lower — all else being equal — when HCN.PRI shares open for trading on 3/27/14. On an annualized basis, the current yield is approximately 5.88%, which compares to an average yield of 7.31% in the "Real Estate" preferred stock category, according to Preferred Stock Channel.
As of last close, HCN.PRI was trading at a 10.64% 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 5.23% of the iShares Cohen & Steers REIT ETF (ICF) which is trading up by about 0.4% on the day Tuesday.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts