Skilled Nursing News April 30, 2024
Welltower Inc. (NYSE: WELL) reported a robust start to the year, noting a nearly 19% year-over-year growth in FFO per share across all segments. Particularly noteworthy was the impressive performance of the senior housing business, surpassing expectations despite economic uncertainties and turbulence in commercial real estate sectors.
Shankh Mitra, Welltower’s chief executive officer said that despite economic uncertainty and turbulence in commercial real estate, the demand-supply dynamics in senior housing are steadily improving, with Welltower experiencing strong performance in the first quarter of 2024. The company achieved double-digit same-store revenue growth of 10.3%, driven by robust occupancy and rate growth.
This success translated into significant margin expansion and a 25.5% growth in same-store net operating income, marking one of the...
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