Weltower reported yesterday. From Seeking Alpha via MSN:
Welltower issues solid 2024 guidance, delivers Q4 earnings beat
Welltower (NYSE:WELL) initiated 2024 earnings guidance with a midpoint that exceeds the average analyst. For Q4, earnings and revenue came in stronger than expected as revenue per occupied room in its senior housing portfolio outpaced expenses per occupied room.
The healthcare REIT expects 2024 normalized FFO per share of $3.94-$4.10 (midpoint $4.02 vs. $4.00 consensus), compared with $ in 2023....
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A bit of googling finds this at Senior Housing News, November 17, 2023:
The latest senior living provider diving head-first into wellness-focused offerings is Monarch Communities, with the operator launching a new luxury senior living brand known as “The Current” in connection with Welltower (NYSE:WELL).
The Current will be a “person-centric, wellness-oriented” aging-in-place community in Weymouth, Mass., and be the first of The Current brand of luxury senior living, according to a news release from Monarch Communities.
The community itself was inspired by WELL Building Certification standards, Monarch Communities CEO Michael Glynn said in the release, aiming to include elements of “nourishment, air, light, water and movement,” into the community of 165 apartments. Rents start at $6,400 monthly for independent living and $6,800 starting per month for memory care.
“In essence, we’ve crafted an environment where people can enhance their daily experiences, enjoy the quality of their lives, and become more who they are in a stress-free atmosphere. We look forward to sharing our vision of community with the South Shore,” Glynn said....
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That sort of language sounds like a very efficient asset extraction machine. Maybe not at the same level as modern art, cocaine or gambling but very efficient.
The stock is up $6.32 (7.24%) at $93.59.
