Welltower Inc. reported a year-over-year decline in its fourth-quarter 2017 normalized funds from operations and provided guidance for the 2018 full year.
The company disclosed normalized FFO of roughly $380.3 million, or $1.02 per share, a fall of 5.3% in the aggregate from $401.5 million, or $1.10 per share, in the 2016 fourth quarter.
NAREIT FFO for the quarter decreased 51.9% year over year to $179.2 million, or 48 cents per share, from $372.8 million, or $1.02 per share.
NAREIT is the U.S.-based trade association for real estate investment trusts and publicly traded real estate companies.
The S&P Capital IQ consensus FFO estimate for the fourth quarter was $1.05 per share.
The company reported a net loss of $111.5 million for the quarter, compared to net income of $333.0 million in the 2016 fourth quarter.
For the full year, the company disclosed a 5.1% year-over-year decline in normalized FFO. In the aggregate, results totaled $1.55 billion, or $4.21 per share, compared with approximately $1.64 billion, or $4.55 per share.
NAREIT FFO for the full year came to roughly $1.17 billion, or $3.16 per share, a 26.4% decrease from $1.58 billion, or $4.39 per share, the previous year.
For the full year, net income amounted to around $463.6 million for the year, a 118.38% fall from $1.01 billion the previous year.
The S&P Capital IQ consensus FFO-per-share estimate for the 2017 full year was $4.24.
In reporting results, Welltower said it expects normalized FFO per share in the range of $3.95 to $4.05 for the 2018 full year.
The S&P Capital IQ consensus FFO-per-share estimate for the 2018 full year is $4.06.