Health Care REIT Inc. ( HCN ), a real estate investment trust (REIT), reported fourth-quarter 2013 normalized funds from operations (FFO) of 99 cents per share, 2 cents ahead of the Zacks Consensus Estimate and up 14 cents year over year. <\/p>\n
The 16.5% year-over-year increase is primarily attributable to robust revenue growth, decent same-store cash NOI (net operating income) and notable portfolio restructuring activity. <\/p>\n
Normalized Funds available for distribution (FAD) in the reported quarter stood at 86 cents per share, up from 74 cents per share in the year-ago period. <\/p>\n
Total revenue reached $788.6 million, escalating 58.7% year over year. The figure also comfortably exceeded the Zacks Consensus Estimate of $784 million. <\/p>\n
For full-year 2013, Healthcare REIT reported normalized FFO per share of $3.81 on revenues of $2.88 billion. Results were substantially higher than the prior-year normalized FFO per share of $3.52 on revenues of $1.81 billion. Additionally, normalized FAD for 2013 was $3.36 per share, up from $3.11 per share in 2012. <\/p>\n
Inside the Headlines <\/p>\n
Total same-store cash NOI in the fourth quarter increased 3.1% from the year-ago period. This included a 6.2% rise in the seniors housing operating portfolio. <\/p>\n
During the quarter, Health Care REIT bought 12 properties for about $277.5 million. Also, the company completed 6 asset developments and 2 expansions for $89 million (at a blended yield of 8.0%) during the said quarter. <\/p>\n
Additionally, Health Care REIT sold 5 seniors housing triple-net properties and 12 medical office buildings for $112 million. The dispositions also included a loan payoff. <\/p>\n
Liquidity <\/p>\n
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Health Care REIT Q4 FFO & Revs Beat Ests - Analyst Blog<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Health Care REIT Inc. ( HCN ), a real estate investment trust (REIT), reported fourth-quarter 2013 normalized funds from operations (FFO) of 99 cents per share, 2 cents ahead of the Zacks Consensus Estimate and up 14 cents year over year. The 16.5% year-over-year increase is primarily attributable to robust revenue growth, decent same-store cash NOI (net operating income) and notable portfolio restructuring activity Continue reading