Have you been eager to see how Welltower Inc. performed in Q3 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:
A FFO Beat
Welltower came out with normalized funds from operations (FFO) per share of $1.08, beating the Zacks Consensus Estimate of $1.05.
The company experienced solid seniors housing operating performance in the third quarter.
How Was the Earnings Surprise Trend?
Welltower has a decent earnings surprise history. Before posting a beat in Q3, the company delivered positive surprise in three out of prior four quarters and in-line results in the other occasion, as shown in the chart below.
Welltower Inc. Price and EPS Surprise
Overall, the company surpassed the Zacks Consensus Estimate by an average of 0.92% in the trailing four quarters.
Note: The EPS numbers presented in the above chart represent funds from operations (FFO) per share.
Revenue Came In Higher Than Expected
Welltower posted revenues of $1.09 billion, which beat the Zacks Consensus Estimate of $1.04 billion. It also compared favorably with the year-ago number of $1.07 billion.
Key Developments to Note
Welltower has updated its 2017 normalized FFO per share guidance and expects it to remain in the range of $4.19-$4.25.
Moreover, the company has increased total same store net operating income (SSNOI) guidance to 2.5-3% from the prior outlook of 2.25-3%, mainly due to the continued better-than-expected seniors housing operating performance.
Further, in sync with its strategic repositioning of its premier health care portfolio, the company anticipates 2017 disposition proceeds to be around $2.4 billion.
What Zacks Rank Says
Welltower has a Zacks Rank #3 (Hold). 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.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this HCN earnings report!
Note: 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.
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
Click here for Zacks' secret trade>>
Image: Bigstock
Welltower (HCN) Surpasses Q3 FFO and Revenues Estimates
Have you been eager to see how Welltower Inc. performed in Q3 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:
A FFO Beat
Welltower came out with normalized funds from operations (FFO) per share of $1.08, beating the Zacks Consensus Estimate of $1.05.
The company experienced solid seniors housing operating performance in the third quarter.
How Was the Earnings Surprise Trend?
Welltower has a decent earnings surprise history. Before posting a beat in Q3, the company delivered positive surprise in three out of prior four quarters and in-line results in the other occasion, as shown in the chart below.
Welltower Inc. Price and EPS Surprise
Welltower Inc. Price and EPS Surprise | Welltower Inc. Quote
Overall, the company surpassed the Zacks Consensus Estimate by an average of 0.92% in the trailing four quarters.
Note: The EPS numbers presented in the above chart represent funds from operations (FFO) per share.
Revenue Came In Higher Than Expected
Welltower posted revenues of $1.09 billion, which beat the Zacks Consensus Estimate of $1.04 billion. It also compared favorably with the year-ago number of $1.07 billion.
Key Developments to Note
Welltower has updated its 2017 normalized FFO per share guidance and expects it to remain in the range of $4.19-$4.25.
Moreover, the company has increased total same store net operating income (SSNOI) guidance to 2.5-3% from the prior outlook of 2.25-3%, mainly due to the continued better-than-expected seniors housing operating performance.
Further, in sync with its strategic repositioning of its premier health care portfolio, the company anticipates 2017 disposition proceeds to be around $2.4 billion.
What Zacks Rank Says
Welltower has a Zacks Rank #3 (Hold). 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.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this HCN earnings report!
Note: 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.
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
Click here for Zacks' secret trade>>