Welltower Inc (NYSE:WELL) Q3 2017 Earnings Conference Call - Final Transcript

Nov 07, 2017 • 10:00 am ET


Welltower Inc (NYSE:WELL) Q3 2017 Earnings Conference Call - Final Transcript


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John Goodey


On November 20, 2017, Welltower will pay its 186th consecutive cash dividend of $0.87. This represents a current dividend yield of approximately 5%.

I will conclude my remarks with our outlook for the rest of the year. Given our strong senior housing's operation performance year-to-date, we are increasing our full year same-store NOI guidance, again, to 2.5% to 3% from 2.25% to 3% prior.

We are also increasing our 2017 full year guidance for normalized FFO to $4.19 to $4.25 per share from $4.15 to $4.25 prior, this being based on the strength of our same-store NOI growth, our G&A focus and re-profiling of divestiture timings. As usual, we do not include unannounced acquisitions in our forecast but we do include expected dispositions.

On that positive note of upward revision, I will hand it back to Tom for his closing comments and look forward to seeing many more of you in person before the close of the calendar year and continuing our open dialogue. Thanks, Tom.

Thomas J. Derosa

Thank you, John. Before we take your questions, I'm proud to tell you that the Welltower Foundation and our community relations fund donated approximately $100,000 to a number of our operators to help support their employees whose lives were profoundly impacted by the hurricanes in Texas and Florida, and the fires in California. We hope that life there gets back to normal soon as well as in Puerto Rico.

Now Dorothy, please open up the line for questions.