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Welltower Inc. (WELL) CEO Tom DeRosa on Q1 2020 Results - Earnings Call Transcript

May 07, 2020 10:21 PM ETWelltower Inc. (WELL)2 Comments
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Welltower Inc. (NYSE:WELL) Q1 2020 Earnings Conference Call May 7, 2020 9:00 AM ET

Company Participants

Matt McQueen - Senior Vice President of General Counsel

Tom DeRosa - Chief Executive Officer

Shankh Mitra - Executive Vice President & Chief Investment Officer

Tim McHugh - Vice President of Finance and Investments

Conference Call Participants

Jonathan Hughes - Raymond James

Steve Sakwa - Evercore ISI

Vikram Malhotra - Morgan Stanley

Michael Bilerman - Citi

Rich Anderson - SMBC

Todd Stender - Wells Fargo

Michael Carroll - RBC Capital Markets

Derek Johnston - Deutsche Bank

Jordan Sadler - KeyBanc

Nick Yulico - Scotiabank

Lukas Hartwich - Green Street Advisors

Tayo Okusanya - Mizuho

Steven Valiquette - Barclays

John Kim - BMO


Thank you for standing by, and welcome to the Q1 2020 Welltower Inc. Earnings Conference Call. All lines have been placed on-mute to prevent any background noise. [Operator Instructions] Thank you.

I’d now like to hand the call over to Mr. Matt McQueen, Senior Vice President of General Counsel. Please go ahead, sir.

Matt McQueen

Thank you, Andrea and good morning. As a reminder, certain statements made during this call may be deemed forward-looking statements in the meaning of the Private Securities Litigation Reform Act. Although Welltower believes any forward-looking statements are based on reasonable assumptions, the company can give no assurances that its projected results will be attained. Factors that could cause results to differ materially from those in the forward-looking statements are detailed in the company's filings with the SEC.

And with that, I'll hand the call over to Tom for his remarks. Tom.

Tom DeRosa

Thanks, Matt. Good morning. I'd first like to say that I hope that you and your families are safe and healthy. I know many of us have been directly impacted by COVID-19 and all of us have

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Comments (2)

Mitch Cumstein profile picture
I take exception to the comments made by Shankh Mitra that I read today in another publication: “I will tell you that ProMedica is in fine shape,” Welltower chief operating officer and chief investment officer Shankh Mitra said during the company’s first-quarter 2020 earnings call. Given the Toledo, Ohio-based system’s outstanding bonds, Mitra said commenting too deeply on ProMedica’s finances would be “extremely inappropriate.” Yes, really, why would the financial health of one of the company's largest tenants be relevant or warrant some kind of response to the question? This guy is an arrogant ass, and the analysts should consider doing their jobs one of these days and calling him out for not being responsive.
Mitch Cumstein profile picture
You'd also think that management might be a little more forthcoming in view of the fact that it lowered the dividend by 30%. Oh yes, everything is just fine guys - great quarter!
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