Published: Saturday, 2\/21\/2015 - Updated: 4 seconds ago <\/p>\n
BY JON CHAVEZ BLADE STAFF WRITER <\/p>\n
Toledos Health Care REIT Inc. said Friday its funds from operations in 2014 were a record $1.3 billion, or $4.13 a share, up 20 percent from a year earlier when FFO was $1.1 billion, or $3.81 a share. <\/p>\n
The real estate investment trust, which owns and manages a real estate portfolio of senior housing and health-care properties, had annual revenues of $3.34 billion, compared to $2.88 billion in 2013. <\/p>\n
Funds from operations is a better metric than net income for real estate investment trusts because, unlike a manufacturing plant or other fixed asset, the assets of a REIT real estate properties are expected to appreciate in value rather than depreciate. Funds from operations excludes depreciation. <\/p>\n
Calendar 2014 was a resounding success for our organization, shareholders, and portfolio performance, said Tom DeRosa, the companys chief executive officer. We were among the best performing REITs in the S&P 500, generating a 48.5 percent total return. Our existing portfolio delivered the consistent, resilient growth that has become our hallmark, with same-store cash [net operating income] growth of 4.2 percent including phenomenal 7.3 percent growth in our seniors housing operating portfolio. <\/p>\n
Mr. DeRosa said the company completed $3.7 billion of new investments and disposed of more than $900 million of nonstrategic assets during 2014. It also successfully raised more than $3 billion in capital. <\/p>\n
For 2014, its net income was $446.7 million, or $1.45 a share, up from $78 million, or 28 cents a share a year earlier. <\/p>\n
In the fourth quarter, Health Care REIT had funds from operations of $337.6 million, or $1.03 a share, up from $286.2 million, or 99 cents a share for the same quarter a year earlier. <\/p>\n
The companys shares closed at $78.05 Friday, up $1.83 on the New York Stock Exchange. <\/p>\n
<\/p>\n
Go here to read the rest: <\/p>\n
Health Care REIT reports record<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Published: Saturday, 2\/21\/2015 - Updated: 4 seconds ago BY JON CHAVEZ BLADE STAFF WRITER Toledos Health Care REIT Inc. said Friday its funds from operations in 2014 were a record $1.3 billion, or $4.13 a share, up 20 percent from a year earlier when FFO was $1.1 billion, or $3.81 a share Continue reading