Have you been eager to see how Health Care REIT, Inc. (HCN – Analyst Report) performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this Toledo, OH-based, real estate investment trust’s (“REIT”) earnings release this morning:
An In Line FFO
Health Care REIT came out with normalized funds from operations (“FFO”) per share of $1.04, in-line with the Zacks Consensus Estimate. .
Results were impacted February equity raise and completion $2.2 billion of high-quality investments and total same store net operating income (NOI” growth of 3.1%
How Was the Earnings Surprise Trend?
Health Care REIT has a decent earnings surprise history. Before posting an earnings beat/miss in Q1, the company delivered positive surprises in all the four trailing quarters, with an annual average positive surprise of 2.2%.
Revenue Beat
Health Care REIT posted revenues of $894.2 billion, which beat the Zacks Consensus Estimate of $884 million. Further, it compared favorably with the year-ago number of $801.8 billion.
Key Developments to Note
Health Care REIT declared a quarterly dividend of 82.5 cents per share, an increase of 4% on a year over year basis.
What Zacks Rank Says
Health Care REIT currently has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
