What were the primary drivers of the significant increase in total assets?

The substantial increase in total assets from $9.45 billion to $13.26 billion was driven by significant real estate acquisitions, including the formation of partnerships like Silverado and Benchmark, and by the successful raising of over $3 billion in equity and unsecured debt capital during the first quarter of 2011.

Why did net income attributable to common stockholders decrease despite strong revenue growth?

While revenues increased significantly, net income attributable to common stockholders decreased slightly due to higher interest expenses, increased transaction costs related to acquisitions and partnerships, and higher depreciation and amortization expenses associated with new property investments.

What significant transactions occurred or were announced around this reporting period?

The company completed the formation of partnerships with Silverado Senior Living, Inc. and Benchmark Senior Living. Post-quarter, on April 1, 2011, they completed the significant acquisition of substantially all real estate assets of Genesis HealthCare Corporation for approximately $2.48 billion.

How has the company's liquidity position changed?

The company's liquidity position improved significantly, with cash and cash equivalents surging to $2.67 billion from $131.6 million at the end of the previous year. This increase is a direct result of robust financing activities, including substantial equity and debt issuances.

WELL 10-Q Quarterly Report Q1 FY2011 — Revenue, Net Income, EPS

Summary

Health Care REIT, Inc. (WELL) reported its first quarter results for the period ending March 31, 2011. The company experienced significant growth in total assets, which increased from $9.45 billion to $13.26 billion, primarily driven by substantial real estate acquisitions and equity/debt financings. Total revenues also saw a significant jump to $255.5 million from $145.4 million in the prior year's comparable period, largely due to increased rental income and the addition of resident fees and services. Despite the revenue growth, net income attributable to common stockholders saw a slight decrease to $23.4 million ($0.15 per diluted share) compared to $25.8 million ($0.21 per diluted share) in the first quarter of 2010. This was impacted by higher interest expenses, transaction costs, and depreciation and amortization. The company actively pursued strategic transactions, including the formation of significant partnerships like Silverado and Benchmark, and completed a major acquisition of Genesis HealthCare's real estate assets post-quarter end. These strategic moves underscore a focus on portfolio expansion and diversification within the senior housing and healthcare real estate sectors.

Financial Highlights

35 data points

Beta

Revenue

$245.76M

Net Income

$32.05M

0.1% Net Margin

EPS (Diluted)

$0.15

Total Assets

$13.26B

Cash & Equivalents

$2.67B

Free Cash Flow

$113.79M

Financial Statements

Beta

Revenue	$245.76M
SG&A Expenses	$17.71M
Operating Expenses	$245.24M
Interest Expense	$56.90M
Net Income	$32.05M
EPS (Basic)	$0.15
EPS (Diluted)	$0.15
Shares Outstanding (Basic)	154.94M
Shares Outstanding (Diluted)	155.49M

Key Highlights

1Total assets grew substantially to $13.26 billion from $9.45 billion, fueled by significant acquisitions and capital raises.
2Total revenues increased by 75.9% to $255.5 million for the quarter, driven by higher rental income and new revenue streams like resident fees and services.
3Net income attributable to common stockholders slightly decreased to $23.4 million ($0.15/share) from $25.8 million ($0.21/share) year-over-year, impacted by increased operating expenses and financing costs.
4The company completed significant strategic transactions, including partnerships with Silverado and Benchmark, and announced the substantial acquisition of Genesis HealthCare's assets post-quarter.
5Cash and cash equivalents significantly increased to $2.67 billion from $131.6 million, reflecting strong financing activities.
6The company raised over $3 billion in equity and unsecured debt capital during March 2011 to fund investments and operations.
7Senior housing operating segment revenue was introduced this quarter due to new RIDEA partnerships, contributing $71.3 million.

WELLTOWER INC. Quarterly Report for Q1 Ended Mar 31, 2011

Summary

Financial Highlights

Key Highlights

Frequently Asked Questions