Welltower Inc. HCN, a healthcare real estate investment trust (“REIT”), came up with normalized funds from operations (“FFO”) per share of $1.13, beating the Zacks Consensus Estimate of $1.12. The figure also improved from $1.04 reported in the year-ago quarter. We expect the outperformance to lead to stock movement.Results were positively impacted by same store cash NOI growth and investments.The company posted revenues of around $1.05 billion, which beat the Zacks Consensus Estimate of $1.02 billion. Further, it compared favorably with the year-ago number of $894.2 million.Quarter in DetailSame store cash NOI grew 3.8% year over year, which was led by 5.5% growth in the seniors housing operating portfolio. Moreover, same store seniors housing operating occupancy increased 60 basis points to 90.7% with revenues per occupied room (REVPOR) growth of 4.2%.Welltower concluded gross investment of $348 million (pro rata basis) in the quarter under review. This comprised $204 million in acquisitions/joint ventures, $96 million in development funding and $48 million in loans. These entire investments were completed with existing relationships.Welltower exited the quarter with cash and cash equivalents of $355.9 million, up from $202.3 million in first-quarter 2015. Moreover, as of Mar 31, 2016, the company had $1.9 billion of available borrowing capacity under its primary unsecured credit facility.2016 OutlookFor 2016, Welltower expects normalized FFO per share in a range of $4.50–$4.60. The company increased its 2016 same store cash NOI growth guidance to 2.75–3.25% from the prior range of 2.5–3.0%. The Zacks Consensus Estimate currently stands at $4.56.Our TakeWelltower’s results, supported by a notable operating portfolio performance, encourage us. In addition, a rise in senior citizen expenditure for healthcare promises strong prospects for the company. However, an anticipated rise in interest rate and intense competition remain as matters of concern.Welltower currently carries a Zacks Rank #3 (Hold). Investors interested in the REIT industry may consider stocks like CubeSmart CUBE, National Health Investors Inc. NHI and Public Storage PSA. Each of these stocks carries a Zacks Rank #2 (Buy).Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. (We are reissuing this article to correct a mistake. The original article, issued earlier today, should no longer be relied upon.)Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PUBLIC STORAGE (PSA): Free Stock Analysis Report WELLTOWER INC (HCN): Free Stock Analysis Report NATL HEALTH INV (NHI): Free Stock Analysis Report CUBESMART (CUBE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research