Welltower Inc (NYSE:WELL) Q4 2019 Earnings Conference Call - Final Transcript

Feb 13, 2020 • 09:00 am ET

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Welltower Inc (NYSE:WELL) Q4 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Welltower Fourth Quarter 2019 Earnings Conference Call.

[Operator Instructions]

After the speakers' presentation, there will be a question-and-answer session.

[Operator Instructions]

I'd now like to hand the conference over to your speaker today, Mr. Matt McQueen, Senior Vice President, General Counsel. Please go ahead, sir.

Executive
Matt McQueen

Thank you, Liz, and good morning. As a reminder, certain statements made during this call may be deemed forward-looking statements in the meaning of the Private Securities Litigation Reform Act. Although Welltower believes any forward-looking statements are based on reasonable assumptions, the company can give no assurances that its projected results will be attained. Factors that could cause results to differ materially from those in the forward-looking statements are detailed in the company's filings with the SEC.

And with that, I'll hand the call over to Tom for his remarks. Tom?

Executive
Thomas J. DeRosa

Thanks, Matt, and good morning. I'm pleased to announce our Q4 and annual results to you today as they reflect the strategic path to growth that we outlined in our Investor Day in December, 2018. Simply put, in 2019, we did what we told you we would do. As the clear market leader and dominant provider of real estate capital to the health and wellness care delivery sector, Welltower has redefined this asset class in terms of quality, operating models, technologically advanced building design, data insight, deal structure and transparency. This has placed us on a sustainable growth path that has generated $4.16 in FFO per share in 2019, a 3.2% increase over 2018 and fuel the optimistic outlook for 2020 we report to you today. The $5 billion we deployed into new investments between January 1, 2019 and today was not generated by playing the old game of overpaying for real estate through auctions or being the passive take out for old school senior housing operators, more focused on their personal development profits than running an operating business.

For Welltower, that game is over. We are the partner of choice for a next generation of residential senior care operators who enter into aligned structures that reward strong performance yet don't leave REIT shareholders holding the bag when things don't go according to plan. And in business, as in life, things don't always go according to plan. We have also become the partner of choice for health systems.

I'm sure you saw Jefferson Health's recent announcement of a broad partnership with Welltower. Jefferson, one of the nation's largest urban academic health systems has elected to work with Welltower to advance its strategy of health care with no address. This partnership will help recapitalize Jefferson's existing Ambulatory assets, build and capitalize their next generation of ambulatory assets, connect Jefferson Health's delivery capabilities into our existing Greater Philadelphia senior population of over 20,000 lives and together conceive new models of housing and wellness care that can drive better outcomes for an aging and at risk urban population. We are honored to be working with Dr.