Welltower To Implement Holding Company Reorganization

(RTTNews) - Welltower Inc. (WELL) said it plans to implement a holding company reorganization that would structure Welltower as an Umbrella Partnership Real Estate Investment Trust, or UPREIT. A new holding company will become the publicly traded parent company and will inherit the name Welltower Inc. The current real estate investment trust will exist as a subsidiary of New Welltower. New Welltower common stock will trade on the NYSE on an uninterrupted basis under the existing symbol, WELL.

Welltower said the reorganization is intended to align its corporate structure with other publicly traded U.S. real estate investment trusts and provide a platform for Welltower to more efficiently acquire properties in a tax-deferred manner. The reorganization is not anticipated to have any impact on the financial position of Welltower. The reorganization also will not impact the payment of the dividend, the company said.