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Welltower Inc. (NYSE: WELL) is a leading real estate investment trust (REIT) headquartered in Toledo, Ohio, dedicated to transforming health care infrastructure. The company strategically invests with senior housing operators, post-acute care providers, and health systems to enhance the delivery of innovative care models. Welltower's diversified portfolio comprises 2,096 properties, including senior housing, medical offices, and skilled nursing facilities across the United States, Canada, and the United Kingdom.
Welltower's business model focuses on providing low-cost capital for health care infrastructure, aiming to reduce patient stays in high-cost settings while improving overall treatment quality. With an eye on global demographic trends, especially the aging population, Welltower is committed to developing environments that address the complex needs associated with dementia and other age-related challenges. The company's strategic partnerships with leading health systems and senior housing operators facilitate the growth and evolution of health care delivery.
Recent achievements underscore Welltower’s aggressive growth and investment strategies. As of November 2023, the company completed a $3.0 billion acquisition activity, including investments in senior housing and skilled nursing sectors. Additionally, Welltower announced a significant public offering of 17,500,000 shares of common stock, expected to generate approximately $1.5 billion in proceeds aimed at expanding their portfolio and funding future investments.
Further solidifying its market position, Welltower entered into a long-term strategic partnership with Affinity Living Communities to acquire 25 active adult communities for $969 million, enabling the company to scale its wellness housing portfolio in high-growth markets. This partnership underscores Welltower's mission to offer wellness-focused rental housing tailored for seniors at moderate price points.
Financially, Welltower has demonstrated robust performance with a significant reduction in net debt to consolidated enterprise value, from 29.5% in December 2022 to 20.9% by the end of 2023. The company’s continued focus on strategic acquisitions, innovative partnerships, and efficient capital deployment ensures a promising outlook for sustained growth and shareholder value.
Welltower’s commitment to Environmental, Social, and Governance (ESG) principles is reflected in its repeated recognition as an ENERGY STAR® Partner of the Year. This dedication to sustainability, alongside consistent dividend payments and strong financial metrics, positions Welltower as a transformative leader in the health care and real estate sectors.
Welltower reported a net income of $0.42 per diluted share for Q2 2020, along with a normalized FFO of $0.86 per diluted share. The company completed $949 million in dispositions at a blended yield of 5.7%, enhancing liquidity to $4.3 billion as of July 31. Occupancy in seniors housing declined to 79.4% in July, with total losses projected between 125-175 basis points for Q3. Despite challenges from COVID-19, Welltower collected 98% of rent due for Q2. A dividend of $0.61 per share was declared, marking the 197th consecutive quarterly cash dividend.
On August 5, 2020, Kayne Anderson Real Estate acquired a significant healthcare portfolio from Welltower Inc. (NYSE: WELL) consisting of 34 properties, including 27 medical office buildings and seven senior housing communities located mainly in Florida. This transaction enhances Welltower's liquidity profile, providing flexibility during challenging market conditions, while KA Real Estate aims to leverage its operator-oriented investment platform for future acquisitions. The deal reflects strong demand for high-quality medical and senior housing assets.
Welltower Inc. (NYSE: WELL) announced the appointment of Diana Reid to its Board of Directors. Ms. Reid brings over 38 years of experience in financial services, previously serving as Executive Vice President at PNC Financial Services and founding Beekman Advisors. Her expertise includes commercial real estate and corporate strategy. Following her appointment, Welltower's Board will now include nine members, with 88% being women and minorities among independent directors. Reid's extensive background is expected to enhance Welltower's growth and create shareholder value.
Welltower Inc. (NYSE: WELL) will release its second quarter 2020 financial results after market close on August 5, 2020. A conference call is scheduled for August 6, 2020, at 9:00 a.m. ET to discuss earnings. Investors can access the call via the company's website or by phone at (844) 467-7115 for the U.S. and (409) 983-9837 internationally, with conference ID 1499061. A replay will be available from 1:00 p.m. ET on August 6 until August 20.
Welltower Inc. (NYSE: WELL) published its 2019 Corporate Social Responsibility report, highlighting significant achievements in environmental, social, and governance (ESG) initiatives. Recognized by FORTUNE's Most Admired Companies and included in the Dow Jones Sustainability Index, Welltower's commitment to ESG was underscored by awards like the Energy Star Partner of the Year. CEO Thomas J. DeRosa emphasized the importance of corporate responsibility during challenging times. The complete CSR report is accessible through the company's website.
Welltower announced a cash offer to purchase up to $426,248,000 of its 3.950% and 3.750% Notes due 2023. The offer, effective as of June 30, 2020, will expire on July 14, 2020, unless extended. Note holders who validly tendered their notes by June 29, 2020, are eligible for Total Consideration, including accrued interest. The offering has reached its maximum principal amount, meaning no additional notes will be accepted. Welltower has engaged BofA Securities, J.P. Morgan, and Wells Fargo as dealer managers for the offer.
Welltower announced early tender results for its cash offer to purchase outstanding Notes. The initial maximum principal amount of $400 million was increased to $426,248,000. Valid tenders included $265,376,000 of 3.950% Notes and $160,872,000 of 3.750% Notes, with all validly tendered Notes accepted for purchase. The Offer will expire on July 14, 2020. The Total Consideration for each Notes series will be determined based on market yield conditions. Welltower plans to announce pricing later today.
Welltower Inc. (NYSE: WELL) has been named to Corporate Responsibility Magazine's 21st annual 100 Best Corporate Citizens list for the second consecutive year. This recognition highlights Welltower's excellence in environmental, social, and governance (ESG) performance among 1,000 large U.S. public companies. The ranking is based on 134 evaluation factors across diverse categories including climate change and employee relations. Welltower's CEO emphasized the importance of corporate responsibility, especially during the pandemic, reinforcing the need for transparency and leadership in sustainability.
Welltower Inc. (NYSE: WELL) announced an amendment to its cash tender offer for its 3.950% and 3.750% Notes due 2023, increasing the maximum principal amount from $300 million to $400 million. The Offer, detailed in the Offer to Purchase dated June 16, 2020, specifies no minimum principal amount for submission. Notes will be accepted based on predetermined priority levels. The Offer requires successful debt financing to proceed, with deadlines for tendering and acceptance outlined through July 14, 2020.
Welltower announced a cash tender offer to purchase up to $300,000,000 of its 3.950% and 3.750% Notes due 2023. The offer is not conditioned on a minimum principal amount but is subject to a maximum aggregate principal amount of $300,000,000. The acceptance will prioritize the lowest numerical value notes first. Key dates include the early tender deadline on June 29, 2020 and the offer expiration on July 14, 2020. Financing conditions are applicable, and the offer is made in compliance with applicable laws.
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