HealthCare REIT Releases 3rd Quarter Earnings & New Investor Presentation

Health Care REIT, Inc. (NYSE:HCN) earlier this week announced its 3rd quarter operating results for the third quarter ended September 30, 2009 that showed net income attributable to shareholders of $.17 per share and released an investor presentation for November 2009 that outlines its operations and financial performance.  The company announced as part of its earnings release some highlights from the quarter:

  • Completed gross new investments totaling $156.3 million in the 3rd Quarter
  • Raised $434.6 million of net equity proceeds during 3Q09 through our September offering, equity shelf program and dividend reinvestment program
  • Raised $132.5 million of Freddie Mac mortgage loans during 3Q09 with an average rate of 5.9%
  • Prepaid $58.8 million of secured debt in September with a blended rate of 7.2%
  • Repurchased $161.4 million of outstanding 8.0% unsecured 2012 senior notes in September

“In the face of the significant challenges of 2009, we successfully disposed of non-core assets and will have completed over $700 million of development projects. We believe that these larger, consumer-driven senior housing properties and state-of-the-art medical facilities are excellent additions to our portfolio,” commented George L. Chapman, chairman, CEO and president of Health Care REIT, Inc. “In addition, the continued strength of our property level rent coverage is a testament to the resiliency of our senior housing and health care real estate.

For the 3rd Quarter 10-Q, click here or for the 8-K.

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For the investor presentation, click here.

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