Welltower Inc (NYSE:WELL) stock rose 2.65% (As on May 11, 11:20:35 AM UTC-4, Source: Google Finance) after the company posted mixed result for the first quarter of FY 22. In the first quarter, the company has completed $1.0 billion of pro rata gross investments including $787 million in acquisitions and loan funding, as well as $233 million in development funding. The company has converted four development projects for an aggregate pro rata investment amount of $228 million. Additionally, during the quarter the company has completed pro rata property dispositions and loan payoffs of $155 million. Year-to-date, the company has completed $1.2 billion of pro rata gross investments exclusive of development funding.

Moreover, the company has reported total portfolio same store NOI (“SSNOI”) growth of 8.9%, driven by year-over-year SSNOI growth in the SHO portfolio of 18.4%. Guidance assumed SSNOI growth of 7.0% and 15.0% for the total portfolio and SHO portfolio, respectively. The company has achieved same store REVPOR growth of 4.6% within the SHO portfolio during the first quarter as compared to the prior year, which represents an acceleration from 3.4% in the fourth quarter 2021

WELL in the first quarter of FY 22 has reported the adjusted earnings per share of 14 cents, missing the analysts’ estimates for the adjusted earnings per share of 18 cents, according to figures compiled by Thomson Reuters. The company had reported the adjusted revenue growth of 33.3 percent to $1.40 billion in the first quarter of FY 22, beating the analysts’ estimates for revenue of $1.35 billion.

Meanwhile, the company has announced the expansion of its strategic partnership with Oakmont Management Group, a leading West Coast operator of Class A communities focused on specialized resident health and wellness programming. The Company has agreed to purchase seven senior living communities, subject to customary closing conditions, which Oakmont will operate under an aligned RIDEA 3.0 contract. The seven properties are located in affluent markets in California and include four rental properties and three continuing care retirement communities (entry fee as well as rental), including Fountaingrove Lodge, the nation’s first LGBTQ and Friends-focused CCRC. The total investment will be approximately $344 million and is expected to generate a high-single-digit unlevered IRR. The transaction is anticipated to be funded through cash on hand and the issuance of operating partnership units. After the completion of the transaction, the Company’s year-to-date closed or announced pro rata gross investment activity will total approximately $2.0 billion.