Welltower (HCN) Tops Q3 FFO by 1c; Boosts FY16 Disposition Outlook
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Cindat and Union Life to Invest in a Welltower U.S. Health Care Real Estate Portfolio
November 2, 2016 8:09 AM EDTTOLEDO, OHIO & BEIJING--(BUSINESS WIRE)-- Welltower Inc. (NYSE:HCN), Cindat Capital Management Limited (Cindat) and Union Life Insurance Co. Ltd (Union Life) announced today that they have entered into a definitive agreement to form a joint venture to invest in a Welltower portfolio of seniors housing and long-term/post-acute care real estate assets. The US $930M transaction represents Cindats first U.S. health care real estate investment.
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Welltower Reports Third Quarter 2016 Results
November 2, 2016 8:09 AM EDTTOLEDO, Ohio--(BUSINESS WIRE)-- Welltower Inc. (NYSE:HCN) today announced results for the quarter ended September 30, 2016. For the quarter, we generated net income attributable to common stockholders of $0.93 per share, normalized FFO of $1.16 per share and normalized FAD of $1.04 per share. Third quarter results were positively impacted by strong trailing-four-quarter average total same store NOI growth, net investments of $2.6 billion and average net debt to undepreciated book capitalization ratio of 39%.
Quarterly Highlights
Normalized FFO and FAD per share increased by 4% and 5% versus 3Q15, respectively Total portfolio SSNOI... MoreWelltower Announces Significant Portfolio Repositioning
November 2, 2016 8:09 AM EDTTOLEDO, Ohio--(BUSINESS WIRE)-- Welltower Inc. (NYSE: HCN) today announced it has increased its 2016 disposition guidance from $1.3 billion to $4.1 billion of proceeds in a strategic repositioning of its premier health care real estate portfolio. As detailed in the companys third quarter 2016 Earnings Release and Supplement issued today, $832 million of total dispositions have closed as of September 30, 2016.
This repositioning will strengthen our focus on premium private-pay health care real estate, reinforce our industry-leading balance sheet strength, and enhance our operating and financial performance, said Tom DeRosa, CEO of Welltower.
The... More
