Health Care REIT, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported loss from continuing operations before income taxes and income from unconsolidated entities of $11,987,000, loss from continuing operations of $12,488,000 and net income attributable to common stockholders of $55,058,000 or $0.21 per diluted share on gross revenues of $633,915,000 compared to income from continuing operations before income taxes and income from unconsolidated entities of $45,589,000, income from continuing operations of $45,651,000 and net income attributable to common stockholders of $39,307,000 or $0.19 per diluted share on gross revenues of $417,996,000 reported in the same period last year. Funds from operations were $170,878,000 or $0.65 per share against $163,857,000 or $0.81 per share reported last year. Funds from operations - normalized were $238,859,000 or $0.91 per share against $174,522,000 or $0.87 per share reported last year. The company reported impairments (gains) on properties, net of $82,492,000 for the three months ended March 31, 2013 against $769,000 a year ago. The Board of Directors declared a cash dividend for the quarter ended March 31, 2013 of $0.765 per share, as compared to $0.74 per share for the same period in 2012, representing a 3.4% increase. On May 20, 2013, the company will pay its 168(th) consecutive quarterly cash dividend. The declaration and payment of quarterly dividends remains subject to review by and approval of the Board of Directors. The company also revised earnings guidance for the year 2013. For the year, the company expects net income attributable to common shareholders to be in the range of $0.70 per share to $0.80 per share compared to previous guidance range of $1.30 per share to $1.40 per share. Impairment on sale of properties, net is expected to be $0.31 per share. Depreciation and amortization is expected to be $3.06 per share compared to $2.40 per share of previous guidance. Funds from operations are expected to be in the range of $3.45 per share to $3.55 per share compared to previous guidance range of $3.70 per diluted share to $3.80 per diluted share. Funds available for distribution - normalized are expected to be the same as $3.25 per share to $3.35 per share of previous guidance. Cap-ex, tenant improvements, lease commissions to be in a range of $0.29 per share to $0.29 per share. Capital expenditure forecast remains $73 million for 2013 which is comprised of approximately $54 million associated with the seniors housing operating portfolio with the remaining $19 million coming from its medical office building portfolio, both of which represents levels at or slightly below 10% of projected 2013 NOI within their respective asset categories.

Health Care REIT, Inc. announced that its Board of Directors declared a cash dividend for the quarter ended March 31, 2013 of $0.765 per share. The dividend will be payable on May 20, 2013, to stockholders of record on May 7, 2013.

Health Care REIT, Inc., Q1 2013 Earnings Call, May 07, 2013