What were the main drivers of revenue growth in Q1 2013?

Revenue growth was primarily driven by the acquisition of new properties, notably the Sunrise Senior Living portfolio, and an increase in resident fees and services from the seniors housing operating segment. The integration of these acquired assets into the company's portfolio significantly contributed to the higher top-line figures.

What impact did the Sunrise Senior Living acquisition have on the company's financials?

The Sunrise acquisition, completed in January 2013, was a major contributor to the increase in total assets and revenues. It advanced the company's strategy to own higher-end, private-pay properties in major metropolitan markets. However, it also resulted in significant transaction costs ($63.78 million related to Sunrise alone) and a preliminary allocation of purchase price, impacting net income for the quarter.

How is the company managing its debt and liquidity?

Health Care REIT maintains a strong liquidity position. As of March 31, 2013, the company had $269.8 million in cash and cash equivalents and $1.55 billion in available borrowing capacity under its expanded $2.25 billion unsecured line of credit. The company also has a significant amount of senior unsecured notes and secured debt but reports being in compliance with all debt covenants.

What is the outlook for the company's dividend?

The company demonstrated its commitment to returning capital to shareholders by increasing its annual cash dividend to $3.06 per common share ($0.765 per share quarterly), effective February 2013. This was the 167th consecutive quarterly dividend payment, indicating a consistent dividend policy.

WELL 10-Q Quarterly Report Q1 FY2013 — Revenue, Net Income, EPS

Summary

Health Care REIT, Inc. (WELL) reported its first quarter results for the period ending March 31, 2013. The company, an S&P 500 REIT specializing in seniors housing and health care real estate, demonstrated robust growth in its portfolio through significant acquisitions. Total assets grew to $20.79 billion from $19.55 billion at the end of 2012, largely driven by the acquisition of Sunrise Senior Living, Inc. and other strategic investments. Financially, the company saw a substantial increase in revenues, with total revenues reaching $633.9 million for the quarter, up from $417.9 million in the prior year's comparable period. This revenue growth was primarily fueled by the integration of acquired properties and an increase in resident fees and services. However, the company reported a net income attributable to common stockholders of $55.06 million, or $0.21 per diluted share, compared to $39.31 million, or $0.19 per diluted share, in the first quarter of 2012. This increase was significantly impacted by substantial transaction costs related to acquisitions, including the Sunrise merger, which amounted to $65.98 million for the quarter.

Financial Highlights

34 data points

Beta

Revenue

$629.72M

Net Income

$71.80M

0.1% Net Margin

EPS (Diluted)

$0.21

Total Assets

$20.79B

Cash & Equivalents

$269.84M

Free Cash Flow

$199.81M

Financial Statements

Beta

Revenue	$629.72M
SG&A Expenses	$27.18M
Operating Expenses	$641.51M
Interest Expense	$108.84M
Net Income	$71.80M
EPS (Basic)	$0.21
EPS (Diluted)	$0.21
Shares Outstanding (Basic)	260.04M
Shares Outstanding (Diluted)	260.04M

Key Highlights

1Total assets increased to $20.79 billion as of March 31, 2013, compared to $19.55 billion at December 31, 2012, driven by acquisitions.
2Total revenues for the first quarter of 2013 surged to $633.9 million, a significant increase from $417.9 million in the same period of 2012.
3The company completed $2.6 billion in gross investments during the first quarter of 2013, largely focused on seniors housing operating properties.
4Net income attributable to common stockholders was $55.06 million ($0.21 per diluted share) for the quarter, an increase from $39.31 million ($0.19 per diluted share) in Q1 2012.
5Transaction costs were a significant expense, totaling $65.98 million for the quarter, primarily related to acquisitions like the Sunrise Senior Living merger.
6The company's unsecured line of credit arrangement was increased to $2.25 billion, providing ample liquidity and borrowing capacity.
7Health Care REIT announced an increase in its annual cash dividend to $3.06 per common share ($0.765 per share quarterly), effective February 2013.

WELLTOWER INC. Quarterly Report for Q1 Ended Mar 31, 2013

Summary

Financial Highlights

Key Highlights

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