Health Care REIT Inc. (HCN) reported that its third-quarter net income attributable to the common stockholders was $19.13 million or $0.17 per share, compared to $53.59 million or $0.55 per share in the same quarter last year.
Normalized Funds from operations for the quarter were $89.18 million, up from $83.32 million in the year ago quarter. Normalized Funds from operations for the quarter were $0.77 per share, down from $0.86 per share in the year ago quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.77 per share for the quarter. Analysts' estimates typically exclude special items.
Gross revenues for the quarter were $145.10 million, compared to $139.35 million in the prior year quarter. Four analysts had consensus revenue estimate of $143.07 million for the quarter.
For fiscal 2009, Normalized FFO has been revised to a range of $3.10 to $3.12 per diluted share from $3.07 to $3.14 per share. Normalized FAD has been revised to a range of $2.92 to $2.94 per share from $2.91 to $2.98 per diluted share. Net income attributable to common stockholders has been decreased to a range of $1.61 to $1.63 per share from $1.75 to $1.82 per share. Analysts expect the company to report earnings of $3.13 per share for fiscal 2009.
The prior net income guidance included $5 million of debt extinguishment charges for the secured debt prepayments. The decrease in net income guidance is primarily due to the additional $20.9 million debt extinguishment charge recognized in the third quarter in connection with the company's unsecured senior notes tender offer.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.