Summary
Health Care REIT, Inc. (WELL) reported its financial results for the quarter and six months ended June 30, 2015. The company demonstrated significant growth in revenues across its segments, driven by strategic acquisitions and development activities. Total revenues for the six months increased by 13.7% year-over-year, reaching $1.85 billion, with rental income and resident fees and services forming the bulk of this revenue. Net income attributable to common stockholders saw a substantial increase of 313%, reaching $503.4 million for the six-month period. This growth was supported by strong operational performance, particularly in the Triple-net and Seniors Housing Operating segments, and a well-managed capital structure.
Financial Highlights
35 data pointsBeta
Financial Statements
Beta
| Revenue | $957.17M |
| SG&A Expenses | $38.47M |
| Operating Expenses | $806.45M |
| Interest Expense | $118.86M |
| Net Income | $330.46M |
| EPS (Basic) | $0.89 |
| EPS (Diluted) | $0.89 |
| Shares Outstanding (Basic) | 350.40M |
| Shares Outstanding (Diluted) | 351.37M |
Key Highlights
- 1Total revenues for the six months ended June 30, 2015, increased to $1.85 billion, up 13.7% from $1.63 billion in the prior year period.
- 2Net income attributable to common stockholders surged by 313% to $503.4 million for the six months ended June 30, 2015, compared to $121.9 million in the prior year period.
- 3The company's Triple-net segment showed robust growth with a 16% increase in Net Operating Income (NOI) to $582.1 million for the six months.
- 4Seniors Housing Operating segment revenue increased by 11.9% to $1.03 billion for the six months, with NOI growing by 9.2% to $335.3 million.
- 5The company completed significant capital raises in early 2015, including a $1.48 billion common stock issuance and a $750 million senior unsecured note offering, enhancing its liquidity and financial flexibility.
- 6Investments for the six months totaled $2.17 billion in acquisitions and joint ventures across the Triple-net, Seniors Housing Operating, and Outpatient Medical segments.
- 7The company increased its quarterly common dividend to $0.825 per share, marking the 177th consecutive quarterly dividend payment.
Frequently Asked Questions
Health Care REIT reported a significant increase in both revenues and net income for the quarter and six months ended June 30, 2015. Total revenues grew to $957.2 million for the quarter and $1.85 billion for the six months. Net income attributable to common stockholders saw substantial growth, rising to $312.6 million for the quarter and $503.4 million for the six months, demonstrating strong operational execution and strategic acquisitions.
All operating segments showed growth. The Triple-net segment's Net Operating Income (NOI) increased by 16% to $582.1 million for the six months. The Seniors Housing Operating segment's revenue rose by 11.9% to $1.03 billion, with NOI up 9.2%. The Outpatient Medical segment also saw revenue growth of 16.8% to $234.8 million, with NOI increasing by 18%.
The company raised substantial capital in the first half of 2015. This included a large common stock offering in February 2015, raising approximately $1.48 billion, and a $750 million senior unsecured note issuance in May 2015. These actions strengthened the company's balance sheet and provided funds for ongoing investments.
Health Care REIT continued its active investment strategy, completing $2.17 billion in acquisitions and joint ventures across its segments during the first six months of 2015. The company also engaged in dispositions, totaling $749.1 million in proceeds from 19 properties. The company's strategy focuses on diversifying its portfolio by property type, relationship, and geographic location to mitigate risk and enhance shareholder value.