Health Care REIT Stock Hits New 52-Week High (HCN)

NEW YORK ( TheStreet) -- Health Care REIT (NYSE: HCN) hit a new 52-week high Tuesday as it is currently trading at $57.75, above its previous 52-week high of $57.66 with 512,548 shares traded as of 10:55 a.m. ET. Average volume has been 2.1 million shares over the past 30 days.

Health Care REIT has a market cap of $12.11 billion and is part of the financial sector and real estate industry. Shares are up 4% year to date as of the close of trading on Monday.

Health Care REIT, Inc. is an independent equity real estate investment trust. The firm engages in acquiring, planning, developing, managing, repositioning and monetizing of real estate assets. It primarily invests in the real estate markets of the United States. The company has a P/E ratio of 63, above the average real estate industry P/E ratio of 47.3 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Health Care REIT as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Health Care REIT Ratings Report.

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