Welltower 2020 guidance midpoint trails consensus

Welltower (NYSE:WELL) sees 2020 normalized FFO per share of $4.20-$4.30 (midpoint $4.25) vs. consensus of $4.29.

Assumes 2020 average blended same-store net operating income of 1.5%-2.5%.

Q4 normalized FFO per share of $1.05 matches the consensus estimate and rises from $1.01 in the year-ago quarter.

Q4 total revenue of $1.26B exceeds $1.25B consensus and increased from $1.24B a year ago.

Q4 total portfolio same-store NOI rose by 2.2%, with consistent performance across all property types.

Completed more than $1.4B of pro rata gross investments comprised of $1.1B of acquisitions at a blended year one yield of 5.3% and expected stabilized yield of 5.6%; additionally, completed $308M of development funding with an expected stabilized yield of 7.9%.

Conference call on Feb. 13 at 9:00 AM ET.

Previously: Welltower FFO in-line, beats on revenue (Feb. 12)

https://seekingalpha.com/news/3541424-welltower-2020-guidance-midpoint-trails-consensus