Welltower Withdraws 2020 Outlook

(RTTNews) - Welltower Inc. (WELL) has decided to withdraw all components related to its full year 2020 guidance, due to the impact of COVID-19 on SHO portfolio fundamentals and recent revisions to the Company's investment outlook and capital plans.

In Friday pre-market trade, WELL is trading at $50.96 up $3.77 or 7.99 percent.

Since its last update on April 1, 2020, occupancy within its Seniors Housing Operating (SHO) portfolio has declined further as move-in criteria and screening have intensified in states more heavily impacted by COVID-19 including New York, New Jersey, Massachusetts and Washington,the company said.

Between March 27, 2020 through April 3, 2020, occupancy within total SHO portfolio fell 0.6% from 85.4% to 84.8%. Subsequently, the portfolio experienced an additional 0.6% decline to 84.2% through April 10, 2020.