Health Care Property Investors (HCP) PriceWatch Alert for October 23, 2009

Posted: Friday, October 23, 2009 8:43 AM EDT

Health Care Property Investors (NYSE: HCP) closed yesterday at $30.15. So far the stock has hit a 52-week low of $14.26 and 52-week high of $31.42. Health Care Property Investors stock has been showing support around 28.69 and resistance in the 30.95 range. Technical indicators for the stock are Bullish and S&P gives HCP a neutral 3 STAR (out of 5) hold rating. HCP appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Dec '09 30 covered call (HCP LF) for a net debit in the $28.70 area. That is also the break even stock price for this trade. This covered call has a 57 day duration, provides 4.81% downside protection and a 4.53% assigned return rate for a 29.01% annualized return rate (comparison purposes only). Health Care Property Investors has a current annual dividend yield of 6.11%. [FBB-Seven Summits Research]

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