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Stock Market & Financial Investment News

News Breaks
August 13, 2014
07:46 EDTHCNHealth Care REIT to acquire HealthLease Properties REIT for $950M
Health Care REIT has entered into a definitive agreement to acquire the outstanding units of HealthLease Properties Real Estate Investment Trust for C$14.20 per unit on a fully diluted basis in an all-cash transaction valued at approximately $950M, including debt assumption. The HealthLease portfolio includes 53 high-quality seniors housing, post-acute care and long-term care communities that are managed by well-respected operators under long-term triple-net lease agreements. The purchase price of the Portfolio represents a 7.0% initial cash yield. HCN projects the acquisition of the Portfolio to be accretive to HCN’s FFOPS and FADPS by approximately 4c in year one. Additionally, HCN has entered into a partnership with Mainstreet Property Group, the external management company of HealthLease. All existing agreements between HealthLease and Mainstreet will be terminated at closing and HCN will not absorb any employees from either company. Mainstreet is the largest developer of seniors housing and post-acute facilities in the U.S. The partnership includes an agreement to acquire 17 state-of-the-art Next Generation communities that are managed by well-respected operators under long-term triple-net lease agreements. The Next Generation communities each feature a mix of 70 post-acute beds and 30 assisted living beds, high-end common areas and amenities, private rooms and baths, and large rehabilitation therapy space. HCN will acquire the Pipeline for approximately $369M representing a 7.5% initial cash yield, which is anticipated to be meaningfully accretive and close in tranches upon completion of construction beginning in 4Q14 through 1Q16.
News For HCN From The Last 14 Days
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May 26, 2015
09:58 EDTHCNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: L Brands (LB) upgraded to Conviction Buy from Buy at Goldman... Dollar General (DG) upgraded to Conviction Buy from Buy at Goldman... Accenture (ACN) upgraded to Outperform from Market Perform at Cowen... Expedia (EXPE) upgraded to Outperform from Market Perform at JMP Securities... The Fresh Market (TFM) upgraded to Neutral from Underperform at Longbow... Marvell (MRVL) upgraded to Overweight from Equal Weight at Morgan Stanley... Health Care REIT (HCN) upgraded to Buy from Neutral at Mizuho... Gold Fields (GFI) upgraded to Buy from Hold at HSBC... eBay (EBAY) upgraded to Buy from Hold at Axiom... CNOOC (CEO) upgraded to Neutral from Underweight at JPMorgan... Quintiles (Q) upgraded to Buy from Neutral at SunTrust... DCT Industrial (DCT) upgraded to Neutral from Underperform at Credit Suisse... Pebblebrook Hotel (PEB) upgraded to Outperform from Neutral at Credit Suisse... Fortinet (FTNT) upgraded to Buy from Hold at Needham... BB&T (BBT) upgraded to Buy from Neutral at Guggenheim... Hercules Technology (HTGC) upgraded to Outperform from Neutral at Macquarie... InterXion (INXN) upgraded to Buy from Hold at Stifel.
08:11 EDTHCNHealth Care REIT, Healthcare Realty Trust upgraded at Mizuho
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06:02 EDTHCNHealth Care REIT upgraded to Buy from Neutral at Mizuho
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