WELLTOWER INC. Quarterly Report for Q2 Ended Jun 30, 2013

Summary

Health Care REIT, Inc. (WELL) reported its quarterly results for the period ending June 30, 2013. The company experienced significant growth in its real estate investments, with a substantial increase in net real property owned, largely driven by acquisitions. Total assets grew to $22.2 billion, up from $19.5 billion at the end of 2012. This growth was supported by a robust capital markets strategy, including significant equity and debt issuances, providing ample liquidity for strategic investments. The company's revenue streams are diversified across rental income and resident fees and services. While interest expense and property operating expenses increased, reflecting the expanded portfolio, the company maintained strong net operating income (NOI) growth. Key strategic initiatives, including the Sunrise merger acquisition and other significant investments, are positioning the company for continued growth in the seniors housing and healthcare real estate sectors.

Key Highlights

• 1Total assets increased to $22.2 billion as of June 30, 2013, up from $19.5 billion at December 31, 2012.
• 2Net real property owned grew significantly, indicating successful property acquisitions and development.
• 3Total revenues for the six months ended June 30, 2013, reached $1.32 billion, an increase from $855.7 million in the prior year period.
• 4Net operating income (NOI) from continuing operations increased by 33% to $783.6 million for the six months ended June 30, 2013.
• 5The company raised $1.73 billion in net proceeds from common stock issuances during the first six months of 2013.
• 6Health Care REIT declared a quarterly common stock dividend of $0.765 per share, an increase from the prior year's comparable period.
• 7The company maintained compliance with all debt covenants as of June 30, 2013.

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