Summary
For the nine months ended September 30, 2019, Welltower Inc. reported substantial growth in net income, reaching $1.09 billion, a significant increase from $705 million in the prior year period. Total revenues also saw a healthy rise to $3.86 billion. The company demonstrated robust operational activity, with significant investments in property acquisitions totaling $3.00 billion and substantial capital expenditures on existing properties and construction. A key event during the period was the disposition of the Benchmark Senior Living portfolio for $1.8 billion, contributing to a gain on sale of $520 million, and the proceeds were used to reduce debt. The company maintained a strong liquidity position with $265.8 million in cash and cash equivalents and significant available borrowing capacity. Financially, Welltower's balance sheet shows total assets grew to $31.86 billion. Debt levels also increased, with total liabilities reaching $15.17 billion, largely due to a rise in senior unsecured notes and secured debt. The company successfully managed its debt, with all covenants under its debt agreements being met. Dividends paid to stockholders remained consistent, reflecting a commitment to returning capital to shareholders. The company continues to strategically manage its portfolio through acquisitions and dispositions, positioning itself for future growth in the health care infrastructure sector.
Financial Highlights
40 data points| Revenue | $1.27B |
| Cost of Revenue | $655.59M |
| Gross Profit | $610.54M |
| SG&A Expenses | $31.02M |
| Operating Expenses | $1.19B |
| Interest Expense | $137.34M |
| Net Income | $589.88M |
| EPS (Basic) | $1.46 |
| EPS (Diluted) | $1.45 |
| Shares Outstanding (Basic) | 405.02M |
| Shares Outstanding (Diluted) | 406.89M |
Key Highlights
- 1Net income for the nine months ended September 30, 2019, increased to $1.09 billion, up from $705 million in the same period last year.
- 2Total revenues grew to $3.86 billion for the nine months ended September 30, 2019, compared to $3.46 billion in the prior year.
- 3The company made significant investments in real estate, with cash disbursed for acquisitions totaling $3.00 billion.
- 4A major disposition occurred with the sale of the Benchmark Senior Living portfolio for $1.8 billion, resulting in a gain of $520 million.
- 5Total assets grew to $31.86 billion as of September 30, 2019, reflecting portfolio expansion.
- 6Welltower maintained a strong liquidity position with $265.8 million in cash and cash equivalents and $1.67 billion in available borrowing capacity.
- 7The company paid consistent quarterly dividends of $0.87 per common share, totaling $1.05 billion for the nine months ended September 30, 2019.