Welltower rises on buying assets from senior living developer

Welltower

14/02/2024 15:58

** Shares of healthcare real estate investment trust (REIT)
Welltower  WELL.N  rise ~6.6% to $93.04
    ** Co says it is acquiring a portfolio of 25 properties from
a housing developer for older adults for $969 million
    ** Also, WELL posts Q4 normalized funds from operations
(FFO), a key performance measure for REITs, of 96 cents/shr vs
analysts' average estimate of 94 cents/shr - LSEG data
    ** Co expects its 2024 FFO to be in the range of $3.94 to
$4.10 per share vs a full-year FFO of $3.64/shr in 2023
    ** Including session's move, stock up 22.5% in the last 12
months

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))