Welltower raises annual FFO forecast on senior housing strength

(Reuters) – Welltower raised its annual funds from operations (FFO) guidance on Monday, on the back of continued strength for its assisted living and senior housing properties.

The real estate investment trust (REIT) now expects normalized FFO attributable to common stockholders at a range of $3.59-$3.63 per share, up from its previous expectation of $3.51-$3.60. Welltower had also raised the 2023 FFO range in September.

The REIT owns seniors housing and healthcare properties with a special focus on senior care homes, assisted living and outpatient medical centers.

As of Dec. 31, 2022, Welltower had 678, 107 and 65 senior housing properties in the United States, Canada and in the United Kingdom, respectively.

Same-store net operating income from its senior housing properties rose 9.8% in the quarter.

The Ohio-based company posted net per share income attributable to common stockholders of 24 cents, compared to a net loss of $0.01 per share reported a year earlier.

(Reporting by Pratik Jain in Bengaluru; Editing by Krishna Chandra Eluri)