Welltower raises annual FFO forecast on strong demand for senior housing
July 28 (Reuters) - Real estate investment trust Welltower WELL.N raised its forecast for annual funds from operations on Monday, banking on steady demand for its assisted living and senior housing properties.
The company expects 2025 normalized FFO, a key performance measure for REITs, to be in the range of $5.06 to $5.14 per share, compared to a previous projection of $4.90 to $5.04 per share. Analysts, on average, expect $4.97 apiece, according to data compiled by LSEG.
The REIT owns housing, outpatient medical centers and healthcare properties with a focus on older adults and assisted living. It operates in the United States, Canada and the UK.
It reported quarterly normalized FFO of $1.28 per share for the quarter, up 21.9% from last year.
The growing number of elderly Americans and their rising healthcare expenditures have fueled increased demand for senior living facilities.
Welltower's same-store net operating income from its senior housing properties rose 23.4% in the quarter.
The Ohio-based company posted a net profit of 45 cents per share for the quarter, compared with a net profit of 42 cents per share reported a year earlier.
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