HCP spun off QCP on October 31. As a result, and as expected, HCP cut their dividend by 35%. This will have a real impact on my portfolio, as HCP is my largest position. Of course, with QCP being a brand new company, little is known about how they will handle dividends. For now I'm going to assume no dividend, and see when some data comes out. I'll hold on to the stock at least until they report a quarter on their own and provide some guidance on dividends.
Same thing for HCP. They will need to prove to me how they perform and handle dividends over the next quarter or two. There are other REITs like NHI or O that may be more attractive if HCP or QCP cannot deliver.