Health Care Property Investors Joins Morgan Stanley REIT Index.Business Editors NEWPORT BEACH Newport Beach, residential and resort city (1990 pop. 66,643), Orange co., S Calif., on Newport Bay and the Pacific Ocean; inc. 1906. It is a popular seaside resort and yachting center. Manufactures include electrical and medical equipment, computers, boats, and adhesives. , Calif.--(BUSINESS WIRE)--July 22, 2002 Health Care Property Investors Inc. (NYSE NYSE See: New York Stock Exchange :HCP HCP, n healthcare provider, a professional who specializes in treating and managing a person's general or specific health needs. ), an equity health-care real estate investment trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ), today announced that the company has joined the Morgan Stanley REIT Index Morgan Stanley REIT Index A capitalization-weighted benchmark index of the most actively traded real estate investment trusts (REITs), designed to measure real estate equity performance. . The addition was effective July 19 following market close. Health Care Property Investors has an approximately 1.5% weighting within the rebalanced index. Health Care Property Investors is one of seven health-care REITs added to the Morgan Stanley REIT Index on July 19. Health-care REITs were added for the first time in the index's seven-year history. Commenting on the company's addition to the index, Health Care Property Investors' Chairman and Chief Executive Officer Kenneth B. Roath said: "We are very pleased that the company has been added to the Morgan Stanley REIT Index, a recognized gauge of REIT performance. It is also significant that the health-care REIT sector has been recognized for inclusion. Adding our company and other health-care focused REITs provides a broader representation of today's REIT universe for index trackers and investors." The Morgan Stanley REIT Index is a market capitalization-weighted benchmark index of the most actively traded REITs, designed to measure real estate equity performance. It is currently comprised of 114 companies. Health Care Property Investors is a self-administered equity real estate investment trust (REIT) that invests directly or through joint ventures in health-care facilities. The company's investment portfolio, as of June 30, 2002, consisted of 432 facilities in 42 states. The company's investments include 181 long-term care facilities long-term care facility n. See skilled nursing facility. , 89 congregate care and assisted living as·sist·ed living n. A living arrangement in which people with special needs, especially older people with disabilities, reside in a facility that provides help with everyday tasks such as bathing, dressing, and taking medication. facilities, 84 medical office buildings, 37 physician group practice clinics, 21 acute care hospitals, nine freestanding rehabilitation facilities, six health-care laboratory and biotech research facilities, and five retirement living communities. The company commenced operations in 1985 and has headquarters in Newport Beach. For more information on Health Care Property Investors, visit the company's Web site at www.hcpi.com. |
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