Welltower Inc. announced on Tuesday that its fourth-quarter net income was $83.9 million, equivalent to $0.15 per share. This is a significant improvement from the net loss of $3.7 million or $0.01 per share reported in the same period last year.
The company's NAREIT FFO (funds from operations) for the quarter was reportedly $491.9 million or $0.89 per share. This is an increase from $358.0 million or $0.74 per share the previous year.
In addition, the Normalized FFO for the quarter amounted to $529.6 million or $0.96 per share. This compares favorably to the previous year's $404.2 million or $0.83 per share.
Revenue for the quarter also increased, rising up to $1.75 billion from $1.52 billion the previous year.
According to analysts surveyed by Thomson Reuters, the expected earnings were $0.26 per share on revenues of $1.75 billion.
