Welltower® delivers the health care infrastructure necessary to facilitate better treatment at lower costs and keep patients out of the hospital. Our business is centered on a relationship-based investing platform. We provide real estate capital to leading seniors housing operators, post-acute care providers and health systems. Through our capital, these companies are able to grow, innovate and ultimately provide better care.
Welltower is a $30-ish billion equity market cap publicly traded REIT that invest primarily in seniors housing, post acute care facilities and medical office buildings. We currently own 1,334 premier senior housing and long-term post acute assets across the U.S., UK and Canada, as well as 20 month 1 million square feet of self-managed medical office space in the U.S.
Before getting to the three reasons I just -- why investors should buy Welltower now. I wanted to highlight a few key things about our organization since we were last here in March of 2018; we delivered 15.3% total return to shareholders, outperforming all peers for the year; we completed over $4 billion of gross investment activity at a 7% yield, while selling nearly 2 billion of non-core assets, further improving the quality of our portfolio and cash flow; we leverage relationships with next-generation operators like Conseil to realign legacy relationships like Brookdale, enhancing the quality of our cash flow while positioning the Welltower platform for future growth; we experienced year-over-year occupancy gains during the fourth quarter for the first time since 2015, and we're encouraged by the general stabilization in seniors housing fundamentals seen during the second half of '18.
The portfolio has undergone a bit of a strategic shift over the past few years, adding significantly to its concentration of senior housing and outpatient medical facilities. In all, 63% of Welltower's income comes from senior housing and 27% comes from outpatient medical and health-system properties. In addition, 95% of the portfolio is private pay, which generally translates to more stable revenue than government-dependent payments such as Medicare and Medicaid.
o Reported net income attributable to common stockholders of $0.71 per diluted share and normalized FFO attributable to common stockholders of $1.02 per diluted share compared to $0.99 per diluted share in 2018, representing 3% normalized FFO growth o Total portfolio SSNOI grew 3.1%, driven by Seniors Housing Operating SSNOI growth of 3.0% o Completed $259 million of pro rata acquisitions in high quality real estate with an additional $519 million in pro rata acquisitions subsequent to quarter end for a total blended yield of 5.9% across eight separate transactions o Improved net debt to Adjusted EBITDA to 5.47x at March 31, 2019 from 5.84x at December 31, 2018 o Generated $538 million of gross proceeds from common stock issuances at an average price of $74.69 per share
On March 31, 2019, we had $249 million of cash and cash equivalents and $2.6 billion of available borrowing capacity under the unsecured revolving credit facility. During the first quarter, we generated approximately $538 million under our dividend reinvestment program and equity shelf program at an average price of $74.69 per share.
The Board of Directors declared a cash dividend for the quarter ended March 31, 2019 of $0.87 per share. On May 28, 2019, we will pay our 192^nd consecutive quarterly cash dividend to stockholders of record on May 14, 2019.
- Reported net income attributable to common stockholders of $0.34 per diluted share and normalized FFO attributable to common stockholders of $1.05 per diluted share compared to $1.00 per diluted share in 2018, representing 5% normalized FFO growth - Grew total portfolio SSNOI by 3.1%, driven by consistent performance across all property types - Completed $2.4 billion of pro rata acquisitions across eight separate transactions at a blended yield of 5.4% and $152 million in development funding with an expected stabilized yield of 7.2% - Completed the sale of the Benchmark Senior Living portfolio for a $1.8 billion gross sale price subsequent to quarter end - Issued seventh annual Corporate Social Responsibility Report and also named a 2019 Energy Star Partner of the Year by the U.S. Environmental Protection Agency
hat heute zugeschlagen und ein Allzeithoch von 77,80? gebildet. Zudem wird in diesem Monat die 4. Quartalsdiv. gezahlt. Die Aktie ändert ihre Dividendenhöhe nicht, dafür geht der Kurs der Aktie aufwärts.
- Reported net income attributable to common stockholders of $1.45 per diluted share and normalized FFO attributable to common stockholders of $1.05 per diluted share - Revised full year net income attributable to common stockholders guidance to a range of $3.06 to $3.10 per diluted share from the previous range of $3.33 to $3.43 per diluted share and increased the midpoint of the guidance range of full year normalized FFO attributable to common stockholders to $4.14 to $4.18 per diluted share as compared to prior guidance of $4.10 to $4.20 per diluted share - Grew total portfolio same store NOI by 2.6%, driven by consistent performance across all property types - Improved net debt to Adjusted EBITDA to 5.79x at September 30, 2019 from 6.33x at June 30, 2019 - Announced a strategic collaboration with CareMore Health to improve care, enhance outcomes and to lower the cost of care for senior populations, with the goal of reducing hospitalizations and increasing length of stay in select Welltower communities - Named to the Dow Jones Sustainability World Index for the second consecutive year and to the Dow Jones Sustainability North America Index for the fourth consecutive year
- Reported net income attributable to common stockholders of $0.55 per diluted share compared to $0.27 per diluted share in 2018 - Reported normalized FFO attributable to common stockholders of $1.05 per diluted share, compared to $1.01 per diluted share in 2018, representing 4% normalized FFO growth - Grew total portfolio same store NOI by 2.2%, driven by consistent performance across all property types - Achieved same store REVPOR growth rate of 3.5% within the Seniors Housing Operating segment, led by the U.K. and U.S. portfolios - Completed over $1.4 billion of pro rata gross investments comprised of $1.1 billion of high-quality acquisitions at a blended year one yield of 5.3% and expected stabilized yield of 5.6%. Additionally, completed $308 million of development funding with an expected stabilized yield of 7.9% - Successfully closed our first green bond offering of $500 million of 2.7% senior unsecured notes due 2027, with proceeds to be used to fund renewable energy, water conservation, energy efficiency and green building projects
Full Year 2019 Highlights
- Reported net income attributable to common stockholders of $3.05 per diluted share compared to $2.02 per diluted share in 2018 - Reported normalized FFO attributable to common stockholders of $4.16 per diluted share, compared to $4.03 per diluted share in 2018, representing 3% normalized FFO growth
- Completed $4.8 billion of pro rata gross investments, including $4.1 billion in acquisitions at a blended year one 5.4% yield and expected stabilized yield of 6.0%. Additionally, we completed $682 million in development funding with a 7.8% expected stabilized yield, property dispositions of $2.7 billion at a blended yield of 6.3% and loan payoffs of $192 million at an average yield of 8.7% -- Completed $2.4 billion in pro rata gross outpatient medical investments at a 5.6% yield and $155 million in development funding with a 6.4% yield -- Initiated new relationships with Related/Atria, Balfour Senior Living, Clover Management, Frontier Management and LCB Senior Living - Grew total portfolio average same store NOI by 2.8%, driven by our best-in-class seniors housing portfolio - Experienced a capstone year for ESG initiatives with the following significant announcements: -- Named to top quintile of Newsweek's inaugural America's Most Responsible Companies 2020 list -- Named to 2019 Dow Jones Sustainability World Index for second consecutive year -- Received GRESB Green Star for sustainability performance for fifth consecutive year
As of March 16, Welltower (WELL -1%) has two residents with reported positive tests for Covid-19 in the U.S., it said in a statement from Chairman and CEO Thomas J. DeRosa.
Elevated protocols put in place to help mitigate the spread of the virus among Welltower's residents may lead to slower new resident flow in the short term; however, the REIT has seen "a commensurate decline in voluntary move outs and higher lead-to-closing ratios."