Summary
Welltower Inc. (WELL) reported its financial results for the quarter ended June 30, 2016. The company demonstrated continued revenue growth, with total revenues increasing to $1.077 billion for the quarter, up from $957 million in the prior year period. This growth was driven by both rental income and resident fees and services, reflecting the company's diversified healthcare real estate portfolio. Net income attributable to common stockholders for the quarter was $195.5 million, or $0.54 per diluted share, compared to $312.6 million, or $0.89 per diluted share, in the same period last year. While net income decreased, this was largely influenced by factors such as property dispositions, which contributed significantly to the prior year's net income. The company also highlighted its strong liquidity position with $466.6 million in cash and cash equivalents and substantial availability under its credit facilities.
Financial Highlights
35 data points| Revenue | $1.08B |
| SG&A Expenses | $39.91M |
| Operating Expenses | $865.99M |
| Interest Expense | $132.33M |
| Net Income | $210.75M |
| EPS (Basic) | $0.55 |
| EPS (Diluted) | $0.54 |
| Shares Outstanding (Basic) | 356.65M |
| Shares Outstanding (Diluted) | 358.89M |
Key Highlights
- 1Total revenues for the quarter ended June 30, 2016, increased by 12.5% year-over-year to $1.077 billion.
- 2Net income attributable to common stockholders decreased to $195.5 million ($0.54 per diluted share) from $312.6 million ($0.89 per diluted share) in the prior year quarter, primarily due to a significant gain on real estate dispositions in the prior year.
- 3The company maintained a strong liquidity position with $466.6 million in cash and cash equivalents and significant available borrowing capacity under its unsecured credit facilities.
- 4Welltower actively managed its capital structure, issuing $700 million in senior unsecured notes and closing on a new, larger primary unsecured credit facility.
- 5The company continued its investment strategy, with $341.3 million in property acquisitions and joint venture investments across its triple-net, seniors housing operating, and outpatient medical segments.
- 6Welltower increased its quarterly cash dividend to common stockholders to $0.86 per share, marking the 181st consecutive quarterly dividend payment.
- 7The company's Net Operating Income (NOI) from continuing operations increased by 10.5% year-over-year to $617.8 million for the quarter.