Health Care REIT Q1 FFO Rises; Backs FY15 FFO Range - Quick Facts

(RTTNews) - Health Care REIT Inc. (HCN) reported that its first-quarter funds from operations or FFO rose to $344.3 million from $288.8 million in the prior year, while FFO per share improved to $1.02 per share from the previous year's $0.99 per share.

Net income attributable to common stockholders for the latest first quarter soared to $190.8 million from the prior year's $50.0 million, with earnings per share surging to $0.56 from $0.17 in the prior year.

Normalized Funds from operations per share was $1.04, up from $1.00 in the comparable quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.04 per share for the quarter. Analysts' estimates typically exclude special items.

Gross revenues for the quarter were $894.18 million, higher than the previous year's $801.81 million. Wall Street expected revenues of $893.60 million.

As previously announced, the Board of Directors declared a cash dividend for the quarter ended March 31, 2015 of $0.825 per share, as compared to $0.795 per share for the same period in 2014, representing a 4% increase. On May 20, 2015, the company will pay its 176th consecutive quarterly cash dividend.

For 2015, the company increased net income attributable to common stockholders to a range of $2.62 to $2.72 per share from its previous range of $1.70 to $1.80 per share.

The company continues to expect FFO in a range of $4.25 to $4.35 per share and FAD in a range of $3.83 to $3.93 per share. Analysts currently expect 2015 earnings of $4.36 per share.