Welltower Cuts Profit Outlook for the Year

By Kimberly Chin

Real estate investment trust Welltower Inc. (WELL) cut its profit forecast as it expects higher losses from impairments and real-estate dispositions for the year.

Welltower now anticipates full-year earnings of $1.24 billion to $1.25 billion, down from its prior forecast of $1.35 billion to $1.39 billion. On a per share basis, it expects profit of $3.06 to $3.10 a share, down from its prior projection of $3.33 to $3.43.

Funds from operations is now projected to be between $1.67 billion and $1.69 billion, or $4.14 and $4.18 on a per-share basis. It previously expected FFO of $1.66 billion to $1.7 billion, or $4.10 to $4.20 a share.

The company expects to post smaller losses from its sale of real estate this year compared with its prior projection, but it expects slightly higher depreciation and amortization expenses.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

October 28, 2019 17:48 ET (21:48 GMT)

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