Hot Products:Health Care REIT, Inc. today announced operating results for the company¡¯s third quarter ended September 30, 2008.
¡°We continued our strong earnings performance for 2008 with 9% FFO growth in the third quarter,¡± commented George L. Chapman, chief executive officer of Health Care REIT, Inc. ¡°Our liquidity has been significantly enhanced by our September equity offering which generated $370 million of net proceeds and our October property sales to Emeritus which raised an additional $77 million. As a result, we have nearly $925 million in cash and available credit, which is sufficient to fund our development commitments and $60 million in debt maturities through the end of 2010. Our disciplined approach to relationship investing allows us to prudently allocate capital to the most attractive opportunities.¡±
Recent Highlights.
* Achieved 3Q08 normalized FFO of $0.86 per share, up 9%
* Achieved 3Q08 normalized FAD of $0.80 per share, up 7%
* Increasing 2008 normalized FFO outlook to a range of $3.34-$3.39 from $3.33-$3.39 per share
* Increasing 2008 normalized FAD outlook to a range of $3.10-$3.15 from $3.08-$3.14 per share
* Completed 3Q08 net new investments totaling $331.7 million
* Issued 8.05 million shares of common stock, generating $369.7 million in net proceeds in September
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