Welltower Inc (WELL) Q4 2019 Earnings Call Transcript

Welltower Inc (WELL) Q4 2019 Earnings Call Transcript

I'd now like to hand the conference over to your speaker today, Mr. Matt McQueen, Senior Vice President, General Counsel.. I'm pleased to announce our Q4 and annual results to you today as they reflect the strategic path to growth that we outlined in our Investor Day in December, 2018.. We are the partner of choice for a next generation of residential senior care operators who enter into aligned structures that reward strong performance don't leave REIT shareholders holding the bag when things don't go according to plan.. And in business, as in life, things don't always go according to plan.. Shankh Mitra will give you a closer look at our Q4 operating performance as well as discuss new investments.. A year ago when we set our guidance for 2019 we told you that we felt cautiously optimistic about our senior housing operating portfolio or SHOP and set the same-store guidance at 0.5% to 2%.. We're delighted to inform you that we have achieved 2.7% growth for the year, primarily driven by stronger pricing power and better than expected labor cost inflation.. If you compare to randomly chose an operator from that disclosure and compare the long-term NOI growth rate