What was the company's growth strategy during this quarter?

Health Care REIT's growth strategy during this quarter focused on expanding its real estate portfolio through acquisitions, such as the purchase of 17 medical office buildings from Rendina Companies, and continuing to invest in real property and provide loan financings. They also focused on enhancing financial flexibility through the significant expansion of their unsecured revolving credit facility.

How did the Rendina/Paramount acquisition impact the company's financials?

The acquisition of 17 medical office buildings and Paramount Real Estate Services, completed in May 2007 for approximately $294.5 million, contributed to the increase in real estate investments and rental income. The results of these properties have been included in the consolidated results of operations from the acquisition date. The purchase price allocation is still preliminary and subject to adjustment.

What is the company's current liquidity position and access to capital?

The company's liquidity appears strong, with cash and cash equivalents of $38.5 million at quarter-end. Crucially, they recently expanded their unsecured revolving credit facility to $1.15 billion, providing significant borrowing capacity and financial flexibility. They also noted plans to issue securities under their registration statements to fund future investments and repay borrowings.

How did the company's debt and interest expenses change during the quarter?

Total liabilities increased to $2.56 billion, with borrowings under unsecured lines of credit significantly increasing to $364.4 million. This increase in borrowings led to a corresponding rise in interest expense, which grew by 50% to $33.5 million for the quarter. Despite this increase, the company's interest and fixed charge coverage ratios remained within acceptable levels.

WELL 10-Q Quarterly Report Q2 FY2007 — Revenue, Net Income, EPS

Summary

Health Care REIT, Inc. (WELL) reported its financial results for the quarter ended June 30, 2007. The company demonstrated significant growth in its real estate portfolio, with total assets increasing to $4.82 billion. Rental income saw a substantial increase of 55% year-over-year for the quarter, driven by acquisitions and portfolio expansion, including the notable acquisition of 17 medical office buildings from Rendina Companies. The company also successfully expanded its credit facilities, raising its unsecured revolving credit facility to $1.15 billion, enhancing its financial flexibility. While expenses, particularly interest and depreciation, also rose in line with growth and acquisitions, net income available to common stockholders increased by 13% to $25.6 million for the quarter.

Key Highlights

1Total assets grew to $4.82 billion as of June 30, 2007, up from $4.28 billion at the end of 2006.
2Quarterly rental income increased by 55% to $111.5 million compared to the same period last year.
3The company completed the acquisition of 17 medical office buildings and Paramount Real Estate Services for approximately $294.5 million.
4An unsecured revolving credit facility was expanded to $1.15 billion, increasing financial flexibility and extending the maturity date.
5Net income available to common stockholders rose by 13% to $25.6 million for the quarter.
6The company declared a quarterly dividend of $0.66 per share, an increase from the previous year's rate.
7Interest expense increased by 50% to $33.5 million due to higher borrowings, but remained manageable within the company's coverage ratios.

WELLTOWER INC. Quarterly Report for Q2 Ended Jun 30, 2007

Summary

Key Highlights

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