Breaking Ground: Welltower’s Third Quarter 2024 Results Unveiled!
TOLEDO, Ohio , Oct. 28, 2024 /PRNewswire/ —
Welltower Inc. (NYSE:WELL) today announced results for the quarter ended September 30, 2024. The company reported net income attributable to common stockholders of $0.73 per diluted share. Additionally, they reported quarterly normalized funds from operations attributable to common stockholders of $1.11 per diluted share, marking an increase of 20.7% over the prior year.
Recent Highlights:
- Reported total portfolio year-over-year same store NOI (“SSNOI”) growth of 12.6%
- SHO portfolio year-over-year same store revenue increased by 8.9% in the third quarter
- Completed $2.4 billion of pro rata gross investments during the third quarter
- Improved net debt to Adjusted EBITDA to 3.73x at September 30, 2024
As of September 30, 2024, Welltower had approximately $8.8 billion of available liquidity, inclusive of $3.8 billion of available cash and restricted cash, and full capacity under their $5.0 billion line of credit. The company’s Board of Directors also approved a 10% increase in the quarterly dividend per share, reflecting their solid financial performance and strong growth prospects.
Capital Activity and Liquidity:
During the third quarter, net debt to consolidated enterprise value improved to 13.1% as of September 30, 2024, from 20.9% as of December 31, 2023.
How will this affect you?
Welltower’s impressive financial results and improved liquidity indicate a strong and stable company, which could potentially lead to better shareholder returns and increased dividends. If you are an investor in Welltower or considering investing, these positive results could be a good sign for the future growth of the company.
How will this affect the world?
The strong performance of Welltower reflects positively on the healthcare and senior housing industry as a whole. It shows that there is continued demand and growth opportunities in this sector, which can benefit not only investors but also the communities and individuals who rely on these services.
Conclusion:
Welltower’s Third Quarter 2024 results unveil a promising future for the company, with impressive growth numbers and improved liquidity. These results not only benefit investors but also signal positive growth and stability in the healthcare and senior housing industry.
