Welltower's Third-Quarter Earnings Show Strong Senior Housing Performance
Leading healthcare real estate investment trust Welltower (NYSE: HCN) reported third-quarter 2017 earnings that beat the market's expectations, highlighted by strong performance in the senior housing portfolio. As a result, shares rose by about 2% following the announcement, indicating that investors were pleasantly surprised. Here's a rundown of the numbers, and what investors can expect going forward.
Welltower's $1.09 billion beat expectations of $1.04 billion, and also represents a small gain over the same quarter last year. The market was actually expecting a drop in revenue, so this is certainly a positive sign.
In addition, Welltower's normalized funds from operations, or FFO -- the REIT version of earnings -- came in $0.03 ahead of expectations at $1.08.
Source: Fool.com
