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Welltower Q2 FFO down YOY, FY'18 guidance updated

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Welltower Q2 FFO down YOY, FY'18 guidance updated

Welltower Inc.'s funds from operations attributable to common stockholders for the second quarter amounted to $1.00 per share, compared with the S&P Capital IQ consensus FFO estimate of 99 cents per share.

The healthcare real estate investment trust's FFO per share for the period fell 5.7% year over year from $1.06.

FFO attributable to common stockholders totaled roughly $371.9 million, a decline from roughly $391 million in the year-ago period.

Nareit FFO declined from the prior-year period to $378.7 million, or $1.02 per share, from $384.4 million, or $1.04 per share.

Nareit is the U.S.-based trade association for REITs and publicly traded real estate companies.

The company forecasts normalized FFO per share in the range of $3.99 to $4.06 for the full year, up from previous guidance in the range of $3.95 to $4.05.

The S&P Capital IQ consensus FFO per share estimate for the full year is $4.02.

The REIT and not-for-profit healthcare system ProMedica Health System Inc. recently closed on their $4.4 billion acquisition of Quality Care Properties Inc. and its principal tenants, HCR ManorCare Inc. and Arden Courts.