Summary
Welltower Inc. (WELL) reported its financial results for the quarter ended June 30, 2019. The company demonstrated revenue growth across its key segments, with Total Revenues reaching $1.32 billion for the quarter, an increase from $1.13 billion in the prior year period. Net income for the quarter was $150.04 million, a decrease from $167.27 million year-over-year, primarily impacted by changes in real estate dispositions and other factors. The company's balance sheet reflects continued investment in real estate, with total assets growing to $33.15 billion from $30.34 billion at the end of 2018. This growth is supported by increased borrowings under its credit facilities and senior unsecured notes. Welltower also highlighted its ongoing efforts in property acquisitions and development, with significant capital deployed across its Seniors Housing Operating, Triple-net, and Outpatient Medical segments.
Financial Highlights
40 data points| Revenue | $1.32B |
| Cost of Revenue | $701.13M |
| Gross Profit | $618.98M |
| SG&A Expenses | $33.74M |
| Operating Expenses | $1.16B |
| Interest Expense | $141.34M |
| Net Income | $150.04M |
| EPS (Basic) | $0.34 |
| EPS (Diluted) | $0.34 |
| Shares Outstanding (Basic) | 404.61M |
| Shares Outstanding (Diluted) | 406.67M |
Key Highlights
- 1Total revenues increased to $1.32 billion for the three months ended June 30, 2019, up from $1.13 billion in the same period last year.
- 2Net income attributable to common stockholders was $137.76 million for the quarter, a decrease from $154.43 million in the prior year quarter.
- 3Total assets grew to $33.15 billion as of June 30, 2019, compared to $30.34 billion at December 31, 2018, driven by real estate investments and increased borrowings.
- 4The company deployed $2.72 billion in acquisitions during the six months ended June 30, 2019, significantly higher than $595.6 million in the prior year period.
- 5Welltower's debt levels increased, with total liabilities rising to $16.70 billion from $14.33 billion.
- 6The company completed a significant disposition of its Benchmark Senior Living portfolio in July 2019 for a gross sale price of $1.8 billion, using proceeds to extinguish debt.
- 7Welltower continues to invest in new development projects, with $155.4 million spent on construction in progress during the six months ended June 30, 2019.