Have you been eager to see how Welltower Inc. performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this Toledo, OH-based, 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 $1.15, beating the Zacks Consensus Estimate of $1.14.
Results were positively impacted by same store cash net operating income growth and investments.
How Was the Earnings Surprise Trend?
Welltower has a decent earnings surprise history. Before posting a beat in Q2, the company delivered positive surprises in all four trailing quarters, with an average positive surprise of 1.1%.
Revenue Beat
Welltower posted revenues of around $1.08 billion, which beat the Zacks Consensus Estimate of $1.04 billion. Further, it compared favorably with the year-ago number of $957.2 million.
Key Developments to Note
For 2016, Welltower reaffirms normalized FFO per share in a range of $4.50–$4.60. The company maintains its 2016 same store cash NOI growth guidance to 2.75–3.25%.
What Zacks Rank Says
Welltower currently 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.
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 (HCN) Q2 FFO & Revenues Beat Estimates
Have you been eager to see how Welltower Inc. performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this Toledo, OH-based, 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 $1.15, beating the Zacks Consensus Estimate of $1.14.
Results were positively impacted by same store cash net operating income growth and investments.
How Was the Earnings Surprise Trend?
Welltower has a decent earnings surprise history. Before posting a beat in Q2, the company delivered positive surprises in all four trailing quarters, with an average positive surprise of 1.1%.
Revenue Beat
Welltower posted revenues of around $1.08 billion, which beat the Zacks Consensus Estimate of $1.04 billion. Further, it compared favorably with the year-ago number of $957.2 million.
Key Developments to Note
For 2016, Welltower reaffirms normalized FFO per share in a range of $4.50–$4.60. The company maintains its 2016 same store cash NOI growth guidance to 2.75–3.25%.
What Zacks Rank Says
Welltower currently 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.
WELLTOWER INC Price and EPS Surprise
WELLTOWER INC Price and EPS Surprise | WELLTOWER INC Quote
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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>