April 29 (Reuters) - Welltower ( WELL ) raised its

annual funds from operations (FFO) forecast on Monday, banking

on strong demand for its assisted living and senior housing

properties.

The real estate investment trust (REIT) owns housing and

healthcare properties with a focus on older adults and assisted

living.

It now sees its 2024 normalized FFO, a key performance

measure for REITs, in the range of $4.02 to $4.15 per share,

raised from its previous outlook of $3.94 to $4.10 per share.

The demand for senior housing assets has been on a rise due

to an overall ageing population in the United States and an

expected rise in senior citizens' healthcare expenditure.

Same-store net operating income from its senior housing

properties rose 25.5% in the quarter ended March 31.

During the quarter, Welltower ( WELL ) completed $449 million of pro

rata gross investments, including $208 million in acquisitions

and loan funding and $241 million in development funding, the

company said.

The Ohio-based REIT posted net per share income attributable

to common stockholders of 22 cents, compared with $0.05 per

share a year earlier.