Have you been eager to see how Welltower Inc. (NYSE:HCN) performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this Toledo, OH-based, healthcare real estate investment trust’s (REIT) earnings release this morning:
An In-Line FFO
Welltower came out with normalized funds from operations (FFO) per share of $1.05, in-line with the Zacks Consensus Estimate.
How Was the Earnings Surprise Trend?
Welltower has a decent earnings surprise history. Before posting an in-line result in Q1, the company delivered positive surprises in all four trailing quarters, with an average positive surprise of 1.12%.
Revenue Beat
Welltower posted revenues of around $1.06 billion, which came in higher than the Zacks Consensus Estimate of $1.05 billion. The prior year-quarter’s revenue figure was also $1.05 billion.
Key Developments to Note
The company continued with its portfolio repositioning efforts during the quarter and generated proceeds of $1.1 billion through disposition.
Welltower has reaffirmed its 2017 normalized FFO per share guidance and expects it to remain in the range of $4.15–$4.25. Also, the company anticipates its 2017 same store cash NOI growth to remain in the range of 2–3%.
Further, in sync with its strategic repositioning of its premier health care portfolio, the company expects 2017 disposition to be around $2 billion.
What Zacks Rank Says
Welltower currently has a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank stocks here.
However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this Welltower earnings report later!
Note: All EPS numbers presented in this write-up represent funds from operations (FFO) per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
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Welltower Inc. (HCN): Free Stock Analysis Report
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