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NEW YORK - Welltower Inc. (NYSE:WELL) reported mixed fourth quarter 2024 results, with earnings missing estimates but revenue beating expectations, while issuing full-year 2025 guidance below analyst projections.
The healthcare real estate investment trust posted adjusted earnings per share of $0.19 for Q4, falling short of the $0.41 consensus estimate. However, quarterly revenue came in at $2.25 billion, surpassing analyst expectations of $2.12 billion.
Welltower’s fourth quarter normalized funds from operations (FFO) per share, a key metric for REITs, rose 17.7% year-over-year to $1.13. The company reported strong same-store net operating income (SSNOI) growth of 12.8% compared to the prior year period, driven by a 23.9% increase in its Seniors Housing Operating portfolio.
For the full year 2024, Welltower achieved normalized FFO of $4.32 per share, representing an 18.7% increase from 2023. The company completed $7 billion in pro rata gross investments during the year.
Looking ahead, Welltower provided softer-than-expected guidance for fiscal year 2025. The company forecasts earnings per share in the range of $1.60 to $1.76, below the consensus estimate of $1.86. Normalized FFO is projected between $4.79 and $4.95 per share for 2025.
The company’s board approved a 10% increase in the quarterly dividend, reflecting confidence in Welltower’s growth prospects and financial performance.
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