Health Care REIT Lowers 2012 FFO Guidance to $3.53-3.63 vs $3.68-3.78 Prior, $3.74 Est
Health Care REIT, Inc. (NYSE: HCN) today announced an update to its full-year normalized 2012 FFO and FAD per share guidance to reflect previously announced acquisitions and financing activity.
The company is adjusting normalized FFO guidance by $0.15 per diluted share from a range of $3.68 to $3.78 per diluted share to a range of $3.53 to $3.63 per diluted share. Normalized FAD guidance is also adjusted by $0.15 per diluted share from a range of $3.26 to $3.36 per diluted share to a range of $3.11 to $3.21 per diluted share. The update to guidance includes the following items disclosed subsequent to the company's previous guidance issued on February 16, 2012:
$508 million in announced acquisitions closed in the first quarter of 2012 through February 17th $269 million in announced assumed and newly arranged debt closed in the first quarter of 2012 through February 17th $1.1 billion offering of common stock (20.7 million shares) closed on February 27th $287.5 million offering of cumulative redeemable preferred stock closed on March 7th $275 million in redemptions of cumulative redeemable preferred stock expected to close on April 2nd
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