- Ahead of the Nareit Conference 2021, Welltower (NYSE:WELL) revised its Q2 outlook wherein it expects to achieve net income attributable to common stockholders in a range of $0.34-$0.38 per diluted share compared to earlier guidance of $0.31 - $0.36 per diluted share.
- It now expects to achieve normalized FFO to be in range of $0.75-$0.79 per diluted share vs. earlier guidance of $0.72 - $0.77 per diluted share.
- Separately, it closed ~$4B unsecured revolving line of credit replacing its existing line of credit of ~$3B.
- Currently, the company has two existing facilities which will remain outstanding; a $500M term loan and C$250M term loan ($206.6M as of June 2 exchange rates).
- The revolving facility is comprised of a $1B tranche that matures on June 4, 2023 and a $3B tranche that matures on June 4, 2025.
- Term facilities mature on July 19, 2023.
- Welltower has the ability to upsize the revolving facility and the USD term loan by up to an additional $1.25B and C$ term loan by up to an additional C$250M.