Have you been eager to see how Health Care REIT, Inc. (HCN) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this Toledo, OH-based, real estate investment trust’s (“REIT”) earnings release this morning:
An FFO Beat
Health Care REIT came out with normalized funds from operations (“FFO”) per share of $1.09, beating the Zacks Consensus Estimate by a penny.
Results were positively impacted by high-quality year-to-date investments worth $2.9 billion.
How Was the Earnings Surprise Trend?
Health Care REIT has a decent earnings surprise history. Before posting an earnings beat in Q2, the company delivered positive surprises in 3 of the four trailing quarters and in-line result on one occasion, with an annual average positive surprise of 1.73%.
Revenue Beat
Health Care REIT posted revenues of $957.2 million, which beat the Zacks Consensus Estimate of $901 million. Further, it compared favorably with the year-ago number of $826.4 million.
Key Developments to Note
As per the earlier announcement, the Board of Directors declared a cash dividend of $0.825 per share for the second quarter 2015, as compared to $0.795 per share for the second-quarter 2014.
What Zacks Rank Says
Health Care REIT currently has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this Health Care REIT earnings report later!
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
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