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Brookdale Senior Living

Health Care REIT Fourth-Quarter Profit More Than Doubles on Revenue, Properties-Sales Gain

Health Care REIT Inc.'s (HCN) fourth-quarter earnings more than doubled as the company saw stronger rental income and resident fees and posted a significantly higher gain on sales of properties.However, funds from operations--a key performance benchmark for REITs--declined and the company's FFO forecast for the full year was below analysts' estimates.The senior housing- and health-care-focused real-estate investment trust expects 2013 FFO of $3.70 to $3.80 a share. Analysts polled by Thomson Reuters projected FFO of $3.88.Health Care REIT also forecasts current-year asset dispositions of $500 million. The REIT has been expanding its portfolio of assisted living and skilled-nursing facilities, including its latest purchase of Sunrise Senior Living Inc. (SRZ), which created one of the largest owners of senior housing in the world.In the fourth quarter, the company acquired 11 properties with Belmont Village for $530 million, 11 properties with Brookdale Senior Living Inc. (BKD) for $271 ...

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