Welltower Raises Annual FFO Forecast Amid Strong Senior Housing Demand

Welltower has increased its annual funds from operations (FFO) forecast, driven by robust demand for senior housing. This adjustment reflects the company's strong performance and the growing need for senior living facilities. The rise in FFO forecast indicates confidence in sustained market growth and Welltower's strategic positioning within the senior housing sector, highlighting its ability to capitalize on favorable demographic trends and meet the increasing demand for quality senior care services.

Welltower (WELL.N) has raised its annual funds from operations (FFO) forecast, citing steady demand for its healthcare real estate investment trust's (REIT) assisted living and senior housing properties. The company now anticipates its 2024 normalized FFO to be in the range of $4.13 to $4.21 per share, an increase from its previous estimate of $4.05 to $4.17 per diluted share.

Welltower specializes in housing, outpatient medical centers, and healthcare properties, with a focus on older adults and assisted living. The REIT operates across the United States, Canada, and the United Kingdom. In the second quarter, the same-store net operating income from its senior housing properties saw a significant rise of 21.7%. This surge in demand is driven by the aging population in the United States and the increased healthcare expenditure among senior citizens.

During the second quarter, Welltower completed $1.7 billion in pro rata gross investments. This includes $1.4 billion in acquisitions and loan funding, along with $251 million in development funding. The Ohio-based company reported a net income attributable to common stockholders of 42 cents per share, a notable increase compared to the 21 cents per share reported a year earlier.

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Source: Reuters‍