Health Care REIT Inc. (HCN) on Tuesday lowered its 2009 funds from operations and net income guidance after completing a stock offering.
The Taledo, Ohio-based company, which invests in healthcare properties, said it now expects to report net income available to common stockholders in a range of $1.75 to $1.82 per and normalized funds from operations in a range of $3.07 to $3.14 per share for the full year 2009.
Previously, the company expected net income attributable to common stockholders of $1.81 to $1.88 per share and normalized FFO funds from operations in the range of $3.11 to $3.18 per share.
Analysts polled by Thomson Reuters currently expect the company to report FFO of $3.14 per share for the full year 2009.
The company closed its public offering of 8 million shares Friday, raising net proceeds of about $310.3 million, excluding offering expenses. The company has also granted the underwriters of the offering a thirty-day option to purchase up to 1.2 million additional shares to cover over-allotments, if any.
Health Care REIT shares closed Tuesday's regular trading session at $40.76, up 62 cents or 1.54% but lost 2 cents in after hours trading.
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