Untraded healthcare REIT Healthcare Trust Inc. priced their previously announced perpetual preferred late Friday.
The issue priced at a fixed rate coupon of 7.375% and is cumulative, but non qualified. This is a rather small issue so it will be interesting to see how much demand there is for a high yield issue, since we have seen so many low coupon issues recently.
The issue should trade today (Monday) on the OTC Grey Market under ticker HLTCP.
The final prospectus can be seen here.
Prices are different at TDA & Schwab – one up, one down with 0 Bid & 0 Ask, and 2.13k shares traded ???
I don’t think I’m the only person to buy a couple hundred shares of HLTCP but it sure feels like it as I only paid $24.55. Trying for a steak dinner flip but I may wind paying for someone else’s steak.
Mike,
Did you find anything concerning with the company’s financials? Are they solidly profitable and diversifed both geographically and w/tenant base?
Thanks, A4I
A4I, nope, I have to admit I didn’t find a thing because I didn’t look. This is a “I hope they stay solvent until the first divi payment” kind of investment research thingy. Horrifying even to me. ¯\_(ツ)_/¯
Appreciate it Mike… Good luck with it. Let’s hope that steak is 100% lean, no fat.
Mike, I placed an order for 400 shares @$24.60 and then took a very long breakfast/lunch. Partially filled 300 shares @$24.55 at Schwab,com. I am writing this with 52 minutes before the market closes. Reason I bought: FIDO analysts are mostly bullish on the issuer. Schwab gave it F for sentiment, D for Quality and C for Valuation for the common. The commons seem to pay some meaningful dividends. Debt to equity without this preferreds seem to be decent. This is an eREIT. I hope that this company could become like AFIN, with questionable beginning with 2 decent quarters worth clearly showing good improvements on NOI.
I thought it was listed that it is an untraded REIT. What is the common symbol?
Thanks.
HTA, so it is traded
furcal–no it is not traded. HTA is a different traded reit.
The remaining balance of 100 shares of HLTCP (temporary symbol of the preferred kindly provided by Mr. Tim McP) were also filled @$24.60.
For clarification : the common for the HLTCP is HTA.
johncal, this is NOT the preferred of HTA. This HLTCP is being issued by a PRIVATE corporation and they are in no way affiliated with (HTA) Healthcare Trust of America, Inc.
http://www.healthcaretrustinc.com/
Healthcare Trust Inc.
HTI is Closed To All New Investments
Healthcare Trust, Inc. (“HTI” or “the Company”) is a non-traded real estate investment trust which seeks to acquire a diversified portfolio of real estate properties, focusing primarily on healthcare-related assets including medical office buildings, seniors housing and other healthcare-related facilities.
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