Welltower Inc.
 (HCN)

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  • Tue, Feb. 9, 12:05 PM
    • Healthcare facility owners are seeing steep losses after HCP (HCP -14.8%), Brookdale Senior Living (BKD -16%), and Medical Properties Trust (MPW -3.8%) issued soft 2016 guidance with their Q4 beats.
    • HCP reported Q4 FFO/share of $0.80 (beat by $0.02), but guided for 2016 FFO/share of $2.74-$2.80 vs. a $3.16 consensus. Brookdale reported Q4 CFFO/share of $0.58 (beat by $0.12), but guided for 2016 CFFO of $2.45-$2.55 vs. a $2.62 consensus. MPW reported Q4 FFO/share of $0.35 (beat by $0.01), but guided for 2016 FFO/share of $1.29-$1.33 vs. a $1.33 consensus.
    • In addition to HCP/Brookdale/MPW, the casualty list includes Omega Healthcare Investors (OHI -9.6%), Capital Senior Living (CSU -6.2%), Five Star Quality Care (FVE -7%), Welltower (HCN -9%), Genesis Healthcare (GEN -9.6%), , Sabra Health Care REIT (SBRA -6.3%), National Health Investors (NHI -4.6%), Ventas (VTR -5.9%), and Physicians Realty Trust (DOC -3.9%).
    | Tue, Feb. 9, 12:05 PM | 44 Comments
  • Thu, Jan. 28, 5:13 PM
    • Welltower (NYSE:HCN) declares $0.86/share quarterly dividend, 4.2% increase from prior dividend of $0.825.
    • Forward yield 5.69%
    • Payable Feb. 22; for shareholders of record Feb. 9; ex-div Feb. 5.
    | Thu, Jan. 28, 5:13 PM | 4 Comments
  • Dec. 22, 2015, 12:05 PM
    • It's been a rough year for REITs (even with a nice post-Labor Day bounce), but 2016 should be better, says MUFG's Karin Ford, as long as Fed rate hikes are measured. At the moment, the betting looks to be on a 25 basis point move at every other meeting ... Is that measured enough?
    • Turning to property fundamentals, Ford sees sustained organic growth, strong demand, and "judicious" levels of new supply.
    • MUFG is overweight on HTA, LTC, and TRNO, neutral on ARE, ESS, and HCN, and underweight CPT.
    • ETFs: IYR, VNQ, DRN, URE, RQI, SCHH, ICF, SRS, RWR, RNP, JRS, KBWY, RFI, NRO, DRV, RIT, REK, RIF, FRI, FTY, PSR, DRA, FREL, WREI, IARAX, LRET, XLRE
    | Dec. 22, 2015, 12:05 PM | 6 Comments
  • Dec. 17, 2015, 10:04 AM
    • Among the downgrades is American Homes 4 Rent (AMH -0.1%), cut to Neutral from Buy just after the company agreed to buy American Residential Properties.
    • JPMorgan is also headed to the sidelines on General Growth Properties (GGP -0.5%) - that stock is lower by 4.4% YTD - and Public Storage (PSA -0.2%) after that stock's 35% run higher this year.
    • Turning to senior housing and medical properties, the team downgrades Welltower (HCN -0.7%) to Neutral as well.
    • JPMorgan also upgraded a couple of REITs - Taubman Centers and Mack-Cali Realty
    | Dec. 17, 2015, 10:04 AM | 1 Comment
  • Dec. 11, 2015, 3:45 PM
    • A plunge in the major averages and Treasury yields often sends money into equity REITs, and that's the case on just a limited basis today.
    • The IYR is lower by 0.8% vs. the S&P 500's 2% decline.
    • Retail REITs like Realty Income (O -0.7%) and National Retail Properties (NNN -0.6%) aren't in the green, but are outperforming the averages.
    • Pushing into positive territory: Ventas (VTR +1%), Welltower (HCN +0.4%), HCP (HCP +0.7%), Public Storgage (PSA +0.1%), Extra Space Storage (EXR +0.1%), Hospitality Properties (HPT +0.6%), Education Realty Trust (EDR +1.1%)
    • ETFs: IYR, VNQ, DRN, URE, RQI, SCHH, ICF, SRS, RWR, RNP, JRS, KBWY, RFI, NRO, DRV, RIT, REK, RIF, FRI, FTY, PSR, DRA, FREL, WREI, IARAX, LRET, XLRE
    | Dec. 11, 2015, 3:45 PM | 10 Comments
  • Nov. 17, 2015, 9:38 AM
    | Nov. 17, 2015, 9:38 AM | 18 Comments
  • Oct. 30, 2015, 8:00 AM
    • Q3 normalized FFO of $396.47M or $1.12 per share vs. $326.1M and $1.04 a year ago. Normalized FAD of $350M or $0.99 per share vs. $312.8M and $0.91. Dividend is $0.825 for normalized FAD payout ratio of 83% (was 87% a year ago). Dividend is hiked to $0.86 quarterly for 2016.
    • Full-year 2015 normalized FFO per share guidance is hiked to $4.32-$4.37 from $4.25-$4.35.
    • Conference call at 10 ET
    • Previously: Welltower beats by $0.02, beats on revenue (Oct. 30)
    • HCN flat premarket
    | Oct. 30, 2015, 8:00 AM | 6 Comments
  • Oct. 30, 2015, 7:49 AM
    • Welltower (NYSE:HCN): Q3 FFO of $1.12 beats by $0.02.
    • Revenue of $979M (+15.5% Y/Y) beats by $22.45M.
    | Oct. 30, 2015, 7:49 AM | 1 Comment
  • Oct. 29, 2015, 5:46 PM
    • Welltower (NYSE:HCN) declares $0.825/share quarterly dividend, in line with previous.
    • Forward yield 4.93%
    • Payable Nov. 20; for shareholders of record Nov. 10; ex-div Nov. 6.
    | Oct. 29, 2015, 5:46 PM | 4 Comments
  • Oct. 29, 2015, 5:30 PM
    | Oct. 29, 2015, 5:30 PM | 19 Comments
  • Sep. 17, 2015, 2:31 PM
    | Sep. 17, 2015, 2:31 PM | 50 Comments
  • Aug. 21, 2015, 3:30 PM
    • These income favorites often catch a wave of buying when the major averages sell off and yields fall, but the panicky action today is taking down nearly all equities.
    • The iShares DJ U.S. Real Estate ETF (IYR -1.7%) and the iShares FTSE NAREIT Mortgage REIT ETF (REM -1.6%), however, are outperforming the S&P 500's 2.7% decline.
    • Previously: Just a modest rally for Treasurys as stocks crumble (Aug. 21)
    • Leading the mREITs lower is Javelin Mortgage (JMI -5.9%), with SA contributor ColoradoWealthManagementFund noting the company has stopped buying back stock despite its wide discount to book value. The sector as a whole looks like it will continue to have to deal with widening spreads and rising prepayments, and still have a looming rate hike cycle on the horizon.
    • Armour Residential (ARR -2%), CYS Investments (CYS -1.8%), Annaly (NLY -1.2%), American Capital Agency (AGNC -1.8%), Arlington Asset (AI -2.4%), Orchid Island (ORC -2.5%), Dynex (DX -2%), Capstead Mortgage (CMO -1.3%).
    • Equity REITs: Realty Income (O -0.7%), Vereit (VER -2.3%), Health Care REIT (HCN -1%), HCP (HCP -1.1%), Gramercy Property (GPT -3.1%), Equity Residential (EQY -1.6%), Simon Property (SPG -0.5%), Kimco (KIM -2.1%), Hospitality Properties (HPT -2.8%), Stag Industrial (STAG -1.4%), American Campus (ACC -1.1%), Public Storage (PSA -1%).
    | Aug. 21, 2015, 3:30 PM | 38 Comments
  • Aug. 11, 2015, 8:20 AM
    • The occupancy rate for all senior housing in 31 major markets fell this spring for the second consecutive quarter, reports Liam Pleven in the WSJ, and Dallas, Atlanta, and Chicago are among the cities where the number of new assisted-living units under construction represent more than 10% of the current inventory.
    • For the 31 major markets in total the figure is 6.4%; about four years ago it was just 3.4%.
    • "Everybody's thinking about these 10K baby boomers turning 65 every day," says one senior living executive, but that doesn't mean they're ready right away to move into senior communities. Alongside trouble finding renters - occupancy of 88.4% in Q2 was down 20 basis points from Q1 and 30 bps from a year ago - attempting to raise rents can also be an issue.
    • Among names of interest: Health Care REIT (NYSE:HCN), HCP, Brookdale Senior Living (NYSE:BKD), Ventas (NYSE:VTR), New Senior (NYSE:SNR), Senior Housing Properties (NYSE:SNH), LTC Properties (NYSE:LTC).
    | Aug. 11, 2015, 8:20 AM | 11 Comments
  • Aug. 4, 2015, 7:59 AM
    • Q2 normalized FFO of $383.7M or $1.09 per share vs. $316.4M and $1.06 one year ago. Normalized FAD of $332M or $0.95 per share vs. $281M and $0.94 one year ago. Normalized FAD payout ratio of 87% up 200 basis points.
    • Same store cash NOI growth of 3.2%. Seniors housing operating same store cash NOI growth of 3.3%, with 5.2% growth in the U.S. offset by occupancy rates in the U.K. impacted by severe flu season.
    • 2015 full year normalized FFO guidance is reaffirmed at $4.25-$4.35 per share, up 3-5% Y/Y; FAD guidance of $3.83-$3.93 is a 5-7% increase.
    • Earnings call at 10 ET
    • Previously: Health Care REIT beats by $0.01, beats on revenue (Aug. 4)
    • HCN flat premarket
    | Aug. 4, 2015, 7:59 AM
  • Aug. 4, 2015, 7:38 AM
    • Health Care REIT (NYSE:HCN): Q2 FFO of $1.09 beats by $0.01.
    • Revenue of $957.17M (+15.8% Y/Y) beats by $35.11M.
    | Aug. 4, 2015, 7:38 AM | 1 Comment
  • Aug. 3, 2015, 5:30 PM
    | Aug. 3, 2015, 5:30 PM | 7 Comments
Company Description
Welltower Inc invests in senior housing and health care real estate. It also provides property management and development services.