Health Care REIT Earnings: Another Solid Sales Quarter

S&P 500 (NYSE:SPY) component Health Care REIT Inc. (NYSE:HCN) reported higher profit for the third quarter as revenue showed growth. Health Care REIT is a real estate investment trust that invests in and manages senior housing and health care real estate.

Earnings season is back and more important than ever. Get our newest CHEAT SHEET stock picks now

Health Care REIT Inc. Earnings Cheat Sheet

Results: Net income for Health Care REIT Inc. rose to $53.5 million (16 cents per share) vs. $52.4 million (21 cents per share) in the same quarter a year earlier. This marks a rise of 2.2% from the year-earlier quarter.

Revenue: Rose 27.9% to $474.1 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Health Care REIT Inc. fell short of the mean analyst estimate of 89 cents per share. It beat the average revenue estimate of $418.7 million.

Quoting Management: “Our business model continued to hit on all cylinders during the third quarter,” commented George L. Chapman, Chairman and CEO of Health Care REIT, Inc. “Our relationship program has produced $1.0 billion of investments in the quarter and $2.9 billion year-to-date.”

Key Stats:

The company fell short of estimates last quarter after beating the mark the quarter before with net income of 89 cents versus a mean estimate of net income of 88 cents per share.

Looking Forward: Over the past ninety days, the average estimate for the fourth quarter has fallen from 94 cents per share to 87 cents, indicating that analysts are growing pessisimistic about the company’s performance next quarter. Over the past sixty days, the average estimate for the fiscal year has reached $3.52 per share, a decline from $3.61.

Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

Don’t Miss These Additional Hot Stories:

Is Netflix Losing Its Edge?

Who is Apple Trying to Please With the iPad Mini?

Is the U.K. a Tech Company Tax Haven?