Welltower Reports Strong Q4 Results, Exceeding Analyst Expectations
Toledo, Ohio (AP) - Welltower Inc. (WELL) announced its financial results for the fourth quarter, reporting a key profitability metric that exceeded Wall Street expectations.
The real estate investment trust, headquartered in Toledo, Ohio, reported funds from operations (FFO) of $715.9 million, equating to $1.13 per share. This surpassed the consensus estimate of $1.12 per share from seven analysts surveyed by Zacks Investment Research.
FFO is a widely followed metric in the REIT industry, representing net income adjusted for non-cash expenses like depreciation and amortization. Welltower also reported net income of $120 million or 19 cents per share.
Revenue for the quarter amounted to $2.25 billion, also exceeding analyst forecasts. The average revenue estimate from five analysts surveyed by Zacks was $2.12 billion.
For the full year, Welltower reported FFO of $2.63 billion and revenue of $7.99 billion. The company projects full-year FFO in the range of $4.79 to $4.95 per share.