Welltower Backs FY16 Normalized FFO/shr View

(RTTNews) - Welltower Inc. (HCN) said that it still expect normalized FFO to be in a range of $4.50 to $4.60 per share and normalized FAD in a range of $3.95 to $4.05 per share for fiscal year 2016. Analysts polled by Thomson Reuters expect the company to report earnings of $4.55 per share for fiscal year 2016. Analysts' estimates typically exclude special items.

Net income attributable to common stockholders has been revised to a range of $2.07 to $2.17 per share from the previous range of $2.04 to $2.14 per share primarily due to impairment, change in depreciation estimate and normalizing items.

The company increased 2016 Same Store Cash NOI guidance and now expect growth of approximately 2.75%-3.25% from the previous range of 2.5%-3.0%.

The company anticipates approximately $1 billion of dispositions in 2016. This includes $303 million of proceeds from properties held for sale at a blended yield of 6.5% with the remainder representing loan payoffs and other potential property sales.