What was the company's performance in terms of revenue and profitability for the first quarter of 2006?

For the first quarter ended March 31, 2006, Health Care REIT, Inc. reported total revenues of $77.4 million, a 19% increase year-over-year, primarily driven by a 24% rise in rental income to $72.8 million. Net income available to common stockholders was $19.6 million, or $0.34 per diluted share, up from $17.8 million, or $0.33 per diluted share, in the same period of 2005.

How did the company's real estate investment activities progress during the quarter?

The company significantly increased its investment in real estate during the first quarter of 2006, deploying $89.99 million compared to $35.38 million in the prior year. This included investments in new properties and construction in progress, reflecting an ongoing strategy to expand its portfolio.

What is the company's current financial health and access to capital?

As of March 31, 2006, the company maintained a debt-to-book capitalization ratio of 52% and a debt-to-market capitalization ratio of 38%. It had $25.7 million in cash and cash equivalents and $339 million in available borrowing capacity under its unsecured lines of credit. Additionally, a successful public offering in April 2006 provided approximately $102.45 million in net proceeds, further strengthening its financial position and capital for future investments and debt repayment.

Has the company maintained its dividend payments to shareholders?

Yes, Health Care REIT, Inc. has consistently returned capital to its shareholders. The company's Board of Directors increased the quarterly dividend to $0.64 per share, and the dividend declared for the quarter ended March 31, 2006, was $0.62 per share, representing the 140th consecutive dividend payment.

WELL 10-Q Quarterly Report Q1 FY2006 — Revenue, Net Income, EPS

Summary

Health Care REIT, Inc. (WELL) reported its first quarter 2006 financial results, demonstrating solid operational performance and continued investment in its portfolio. For the quarter ending March 31, 2006, the company saw a notable increase in rental income, contributing to overall revenue growth. Net income available to common stockholders rose to $19.6 million, or $0.34 per diluted share, compared to $17.8 million, or $0.33 per diluted share, in the same period of the prior year. The company continued its strategy of expanding its real estate investments, with significant capital deployed into new properties and construction in progress. Financially, WELL maintained a healthy balance sheet with robust liquidity. The company's proactive management of its debt structure and strong coverage ratios indicate financial stability. Furthermore, WELL continued its commitment to shareholder returns by increasing its quarterly dividend and maintaining a history of consistent dividend payments. The company also recently completed a successful public offering of common stock, bolstering its capital position for future growth opportunities and debt repayment.

Key Highlights

1Rental income increased by 24% to $72.8 million for the three months ended March 31, 2006, compared to $58.8 million in the prior year period, indicating portfolio expansion and operational growth.
2Net income available to common stockholders was $19.6 million ($0.34 per diluted share) for the quarter, an increase from $17.8 million ($0.33 per diluted share) in the first quarter of 2005.
3Total investments in real property for the quarter amounted to $89.99 million, a significant increase from $35.38 million in the same period last year, reflecting continued strategic acquisitions and development.
4The company completed a public offering of common stock in April 2006, raising approximately $102.45 million in net proceeds, strengthening its capital position.
5WELL's dividend per common share increased to $0.62 for the quarter, marking the 140th consecutive dividend payment and demonstrating a commitment to shareholder returns.
6The company reported a Debt to Book Capitalization ratio of 52% and a Debt to Market Capitalization ratio of 38% as of March 31, 2006, indicating a balanced leverage profile.
7Total revenues grew by 19% to $77.4 million, driven primarily by the increase in rental income from its healthcare and senior housing properties.

WELLTOWER INC. Quarterly Report for Q1 Ended Mar 31, 2006

Summary

Key Highlights

Frequently Asked Questions