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Welltower: 4Q Earnings Snapshot

TOLEDO, Ohio (AP) _ Welltower Inc. (WELL) on Wednesday reported a key measure of profitability in its fourth quarter. The results beat Wall Street expectations.

The real estate investment trust, based in Toledo, Ohio, said it had funds from operations of $426.4 million, or $1.05 per share, in the period.

The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of $1.04 per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $224.3 million, or 55 cents per share.

The senior housing and health care real estate investment trust posted revenue of $1.26 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $1.25 billion.

For the year, the company reported funds from operations of $1.68 billion, or $4.16 per share. Revenue was reported as $5.12 billion.

Welltower expects full-year funds from operations in the range of $4.20 to $4.30 per share.

The company's shares have climbed 5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $85.86, an increase of 12% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WELL at https://www.zacks.com/ap/WELL