Welltower: Q2 Earnings Snapshot

August 9, 2022 GMT

TOLEDO, Ohio (AP) _ Welltower Inc. (WELL) on Tuesday reported a key measure of profitability in its second quarter. The results beat Wall Street expectations.

The Toledo, Ohio-based real estate investment trust said it had funds from operations of $409.6 million, or 86 cents per share, in the period.

The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of 85 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $89.8 million, or 20 cents per share.

The senior housing and health care real estate investment trust, based in Toledo, Ohio, posted revenue of $1.47 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $1.42 billion.

For the current quarter ending in October, Welltower expects its per-share funds from operations to range from 82 cents to 87 cents.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WELL at https://www.zacks.com/ap/WELL