Health Care REITs

American Health Properties, Inc.

The Company

With the overall REIT health care segment sporting an average Beta of 0.5-0.7, American Home Properties <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: AHE)") else Response.Write("(NYSE: AHE)") end if %> weighs in at a scant 0.27. Despite the lack of volatility, there is nothing boring about American Home Properties, which is one of the few health care REIT stocks that trades at a 10% discount to its projected three-year FFO growth rate of 14%. American Health Properties specializes in acute care, rehabilitation, long-term care, assisted living, and Alzheimer's patient care.

Latest Financials

Core Group funds from operations (FFO) for the first quarter of 1997 were $13,543,000 ($0.58 per share) compared to $12,825,000 ($0.55 per share) for the first quarter of 1996, an increase of 5.6% in gross FFO. The Core Group had a strong quarter for investments with over $50 million in new commitments in assisted living, skilled nursing and long-term acute care (LTAC) hospital facilities. The company meaningfully reduced its cost of debt during the first quarter.

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