Welltower, Inc. ( (WELL) ) has realeased its Q3 earnings. Here is a breakdown of the information Welltower, Inc. presented to its investors.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Welltower Inc., a real estate investment trust based in Toledo, Ohio, focuses on transforming healthcare infrastructure by investing in seniors housing, post-acute communities, and outpatient medical properties across the United States, Canada, and the United Kingdom.
In its third quarter of 2024 earnings report, Welltower Inc. showcased robust financial performance with a reported net income of $0.73 per diluted share and a significant increase in normalized funds from operations to $1.11 per diluted share, marking a 20.7% rise from the previous year. The company also reported a notable growth in its Seniors Housing Operating portfolio with a year-over-year same store NOI growth of 23.0%.
Key financial highlights include a year-over-year same store NOI growth of 12.6%, driven by strong performance in the Seniors Housing Operating sector. The company also improved its net debt to Adjusted EBITDA from 5.14x to 3.73x and reported an available liquidity of approximately $8.8 billion. Notably, Welltower completed $2.4 billion in gross investments during the quarter and announced a 10% increase in its quarterly dividend per share.
Strategically, Welltower advanced its portfolio through significant acquisitions and transitions. The company completed $2.4 billion in investments, including acquisitions of active adult communities and the conversion of 52 properties to Seniors Housing Operating structures. These moves are aimed at enhancing cash flow growth and strengthening partnerships with leading managers.
Looking ahead, Welltower’s management expressed confidence in continued growth, revising their net income guidance upward to between $1.75 and $1.81 per diluted share for the year. The company anticipates solid growth in same store NOI and remains committed to strategic investments and liquidity management to drive future success.
