Early Access

10-KPeriod: FY2009

WELLTOWER INC. Annual Report, Year Ended Dec 31, 2009

Filed February 26, 2010For Securities:WELL

Summary

Health Care REIT, Inc. (now Welltower Inc.) is a real estate investment trust (REIT) that focuses on senior housing and health care real estate. As of December 31, 2009, the company owned a diversified portfolio of 590 properties across 39 states, with a total investment value of $6.09 billion. The portfolio is balanced across various health care property types, including skilled nursing facilities (24.6%), assisted living facilities (21.6%), medical office buildings (23.5%), and independent living/CCRCs (19.8%), with hospitals making up the remaining 10.5%. The company's primary objectives are capital preservation and enhancing stockholder value through consistent cash dividends and portfolio growth, primarily funded through a mix of debt and equity. Despite economic headwinds in 2009, the company strengthened its balance sheet by raising over $1 billion in funds and maintained investment-grade credit ratings.

Financial Highlights

34 data points
Beta

Revenue

$523.29M

Net Income

$193.27M

0.4% Net Margin

EPS (Diluted)

$1.49

Total Assets

$6.37B

Cash & Equivalents

$35.48M

Free Cash Flow

$381.26M

Financial Statements
Beta
Revenue$523.29M
SG&A Expenses$49.69M
Operating Expenses$378.11M
Interest Expense$96.86M
Net Income$193.27M
EPS (Basic)$1.50
EPS (Diluted)$1.49
Shares Outstanding (Basic)114.21M
Shares Outstanding (Diluted)114.61M

Key Highlights

  • 1As of December 31, 2009, Health Care REIT, Inc. owned a diversified portfolio of 590 properties across 39 states with a total investment value of approximately $6.09 billion.
  • 2The portfolio is well-diversified across property types, with significant concentrations in skilled nursing facilities (24.6%), assisted living facilities (21.6%), and medical office buildings (23.5%).
  • 3The company's primary objectives include protecting stockholder capital and enhancing stockholder value through consistent cash dividends and portfolio growth.
  • 4Liquidity was a focus in 2009, with the company raising over $1 billion in funds from various sources to strengthen its balance sheet.
  • 5Health Care REIT, Inc. maintained investment-grade credit ratings from Moody's, Standard & Poor's, and Fitch, demonstrating financial stability.
  • 6The company generated $568.97 million in revenues in 2009, with rental income forming the vast majority.
  • 7Despite economic challenges, the company planned to invest $1.0 to $1.2 billion in gross new investments during 2010.

Frequently Asked Questions