Why Welltower Stock Did Smashingly Well Today
Tuesday was a good day to be an investor in specialty real estate investment trust (REIT) Welltower (NYSE: WELL). The company delivered its latest set of quarterly results after market hours Monday, and the market clearly liked what it saw. That positive sentiment propelled Welltower stock to a more than 8% gain today.
Welltower's third quarter saw it earn just over $1.47 billion in revenue, which represented growth of almost 19% on a year-over-year basis. It was also slightly better than the collective analyst estimate of $1.46 billion, according to Zack's.
Normalized funds from operations (FFO), considered the most crucial profitability metric for REITs, clocked in at nearly $395 million, or $0.84 per share. That broadly met prognosticator forecasts, and was up from the year-ago result of $343 million.
Source Fool.com
