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13:00
Jul 28 ◎

WELL FY2026 Q2 Watch

Welltower Inc. (WELL) FY2026 Q2 Earnings Call

WELL ▾

Tim Johnson

Management raised full-year 2026 normalized FFO guidance by 12 cents at the midpoint and reinforced confidence in continued senior housing operating momentum, occupancy growth and margin expansion.

"Two quarters later, we're raising that outlook for the second consecutive quarter, reinforcing both the strength of our underlying portfolio and the continued momentum of the business."

WELL WATCH

HIGH

13:00
Apr 29 ◎

WELL FY2026 Q1 Watch

Welltower Inc. (WELL) FY2026 Q1 Earnings Call

SPG ARE VTR OHI PSA ▾

Sean Kelly

Commentary on the passing of David Simon, highlighting his leadership at Simon Property Group and Sean Kelly's personal connection.

"he was a true visionary... The stellar returns Simon delivered for his shareholders under David's leadership was no accident."

SPG WATCH

Nikhil

Welltower acquired the Amica Senior Lifestyles portfolio in premium markets across the GTA and Vancouver, marking a significant expansion in Canada. — This large, targeted acquisition in high-barrier markets signals Welltower's confidence in the Canadian senior housing market's long-term growth and reveals a strategic capital allocation focus.

"we have already closed on additional $4.2 billion of transactions in the second quarter, comprised primarily of our previously announced acquisition of Amica Senior Lifestyles in premium markets across the GTA and Vancouver."

ARE WATCH

Sean Kelly

Management notes that 'some of the first time sellers have learned the hard way that five to six months timeline required to reach a signed definitive agreement in real estate is an eternity in today's world', with deals retrading after market volatility. — This suggests that Welltower, with its speed of execution, is gaining a competitive advantage over slower, more traditional buyers in the current high-volatility environment.

"We did look at the Rebel portfolio, and we think that it's a very high-quality portfolio that our colleagues at Ventus will do very well with."

VTR WATCH

Sean Kelly

Welltower has sold $11 billion of dispositions since the beginning of 2025, which was 'meaningfully dilutive' to 2026 earnings per share, but 'meaningfully extended our growth curve in outer years'. — This highlights Welltower's strategic, but earnings-dilutive, portfolio transformation. The market, focused on near-term EPS, may underestimate the long-term value creation from this rotation.

"Senior housing operating portfolio, which now comprises 74% of our same store ROI, up from 57% first quarter of last year."

OHI WATCH

Sean Kelly

Welltower is licensing its data science platform externally for the first time, with Public Storage as a named partner. — This is a new, potentially high-margin, asset-light revenue stream for Welltower. For Public Storage, it suggests they are seeking AI-driven capital allocation tools to refine their investment decisions.

"we launched our first external partnership during the first quarter, licensing bespoke, supervised and unsupervised models to public storage and the leading global private equity firm."

PSA WATCH

HIGH

14:00
Feb 11 ◎

WELL FY2025 Q4 Watch

Welltower Inc. (WELL) FY2025 Q4 Earnings Call

WELL ▾

Tim

Management's guidance is strongly positive, with significant FFO per share growth projected for 2026, driven by continued strong NOI growth and the successful mix shift towards senior housing.

"Our normalized FFO guidance represents an $0.88 per share increase at the midpoint from our 2025 full-year results."

WELL WATCH

HIGH

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