In a release on
FFO, as defined by the
Normalized FFO for the year ended
FFO, as defined by NAREIT, for the year ended
The Company currently forecasts Normalized FFO for 2014 from
The Company's guidance range reflects the existence of volatile economic conditions, but does not assume any material deterioration in tenant credit quality and/or performance of its portfolio. The guidance is based on a number of assumptions, many of which are outside the Company's control and all of which are subject to change. The low end of our guidance range assumes a baseline from the fourth quarter of 2013, the acquisitions and dispositions of real estate announced during the fourth quarter of 2013, the timing for terming out debt on our credit facility and assuming 3 percent growth from our Bickford joint venture. On the top end of that range, we are adding in assumptions for investment activity and 6 percent growth from our Bickford joint venture. The Company expects to make new investments in health care real estate during 2014 that meet its underwriting criteria and where the spreads over its cost of capital generates sufficient returns to its shareholders. These new investments are expected to be funded by the Company's liquid investments and by short-term and long-term debt financing. The Company's guidance may change if actual results vary from these assumptions.
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