Larger Shares Authorization Sought
Health Care Property Investors Inc., with a strong stock price that could be used for acquisitions, is seeking to increase the number of common shares authorized to 200 million from 100 million shares, according to a document it filed Tuesday with the Securities and Exchange Commission.
The Newport Beach real estate investment trust, which specializes in health care properties, said in the filing that the additional shares could be used for any corporate purpose, including acquisitions, employee compensation and stock splits.
Stock of Health Care Property has been hitting annual highs in recent months. The stock lost 45 cents Tuesday to close at $30.75 a share on the New York Stock Exchange.
In another vote, shareholders will consider reducing the votes required to approve extraordinary actions and most amendments to the company’s charter from two-thirds to a simple majority of voting shares. The decision could make acquisitions easier to accomplish.
Health Care Property had about 51 million shares outstanding at the end of September.
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