Revenue segments as reported by the company.

Resident fees and services

Rental income

Interest income

Other income

Revenue Segments

Gross Profit, Operating Income, and Net Income as a percentage of Revenue

Operating Margin

Profit Margin

Margins

An operating expense is an expense a business incurs through its normal business operations. Often abbreviated as OPEX.

Property operating expenses

Depreciation and amortization

Interest expense

General and administrative expenses

Loss (gain) on derivatives and financial instruments, net

Loss (gain) on extinguishment of debt, net

Provision for loan losses, net

Impairment of assets

Other expenses

Operating Expenses

Year over year growth in Revenue and Operating Expenses.

Revenue Y/Y

OpEx Y/Y

Growth

Shares outstanding refer to a company's stock currently held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company's officers and insiders.

Outstanding Shares

Market Cap

Also known as Price/Sales Ratio. Calculated using Average market cap for the quarter / Annualized quarterly revenue.

Revenue Multiple

Welltower

Welltower, Inc. engages in the provision of health care infrastructure and investment of seniors housing operators, post-acute providers, and health systems. It operates through the following segments: Seniors Housing Operating, Triple-net, and Outpatient Medical. The Seniors Housing Operating segment includes the seniors housing communities. The Triple-net segment offers long-term/post-acute care facilities, assisted living facilities, independent living/continuing care retirement communities, care homes (United Kingdom), independent support living facilities (Canada), care homes with nursing (United Kingdom), and combinations thereof. The Outpatient Medical segment provides outpatient medical buildings. The company was founded by Bruce G. Thompson and Fritz Wolfe in 1970 and is headquartered in Toledo, OH.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Welltower reports robust Q4 performance, eyes self-management opportunities

Welltower's Q4 2022 performance showcased a strong rebound and emphasized key operational improvements and milestones.
The company's strategic strengths lie in enhancing its operating platform, attracting talent, and pursuing favorable investment opportunities.
Challenges include managing transitions with new operators, addressing margin considerations, and balancing capital activity.
Opportunities include self-managing assets, collaborating with partners for regional density, and leveraging existing systems for efficiency.

Welltower surpasses Q1 expectations, poised for growth and value creation

Welltower's Q1 performance exceeded expectations, showcasing strong growth and margin expansion. The company's proactive portfolio management efforts are creating substantial value for shareholders. With disciplined capital allocation and balance sheet progress, Welltower is well-positioned for future growth and value creation.

Welltower reports robust Q2 performance, eyes growth opportunities ahead

Welltower's Q2 2023 performance showcased strong growth in the Senior Housing segment and overall portfolio.
The company's focus on optimizing expenses and achieving sustainable growth positions it well for the future.
Challenges include managing rising interest rates, balance sheet issues, and optimizing expenses for margin expansion.
Opportunities lie in Senior Housing deals, renovation programs, and potential pricing power in 2024.

Welltower reports robust Q3 results, cautious on M&A and market viability

Welltower's Q3 performance showcased strong revenue growth, margin expansion, and improved balance sheet strength. While focusing on customer experience and operational excellence, the company remains cautious about external growth and skeptical about certain market dynamics.

Welltower excels in 2023, eyes growth through strategic investments

Welltower's performance in 2023 showcased operational strength, strategic investments, and growth prospects for 2024.
The company's focus on customer experience, partnerships, and portfolio expansion underpins its competitive edge and future growth potential.
Despite challenges like regulatory uncertainties, Welltower's proactive approach and market positioning offer resilience and opportunities for value creation.

Welltower reports robust Q1 performance, eyes $19B domestic opportunity

Welltower's Q1 2024 performance showcased strong financial and operational metrics, underpinned by strategic investments and market observations.
While challenges in debt dynamics and capital influx persist, the company's proactive approach to risk management and profitability bodes well for future growth.
With a focus on optimizing operations, seizing growth opportunities, and managing industry challenges, Welltower positions itself for continued success in the market.

Welltower reports strong Q2 growth, eyes long-term senior housing prospects

Welltower's Q2 performance reflects robust growth in key financial metrics, driven by the strength of its senior housing portfolio.
Despite challenges in construction activity, the company's strategic acquisitions and operational enhancements position it for continued success.
With a focus on long-term growth and financial stability, Welltower remains well-positioned to capitalize on opportunities in the senior housing market.

Welltower reports robust Q3 earnings, poised for sustained growth

Welltower's Q3 performance reflects strong financial results and operational achievements, driven by strategic investments and operational enhancements.
The company's focus on long-term value creation, technology integration, and prudent capital deployment underscores its commitment to sustainable growth.
While facing challenges in a dynamic market environment, Welltower's strengths in financial stability, supply outlook, and customer-centric approach position it well for future success.
Opportunities lie in innovation, market expansion, and digital transformation, offering avenues for Welltower to capitalize on emerging trends and drive continued growth.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Welltower, Inc. operates as a health care infrastructure company. It invests in seniors housing operators, post-acute providers and health systems to fund the real estate infrastructure. The company's operating business segments include Seniors Housing Operating, Triple-Net and Outpatient Medical. The Seniors Housing Operating segment operates properties including seniors? apartments, independent living and independent supportive living, continuing care retirement communities, and assisted living, Alzheimer's/dementia care and includes care homes with or without nursing. The Triple-Net segment properties offer services including independent living & supportive living (Canada), assisted living, continuing care retirement communities, Alzheimer's/dementia care and care homes with or without nursing (U.K.), and long-term/post-acute care. The Outpatient Medical segment invests in and operates outpatient medical buildings including physician offices, ambulatory surgery centers, diagnostic facilities, outpatient services and/or labs. The company was founded in 1970 and is headquartered in Toledo, OH.

Welltower Inc. reported strong Q3 results with a 24.1% revenue increase and improved financial position, but growth may already be priced in. The company's SSNOI and SHO portfolio showed significant growth, and 2024 guidance has been revised upwards, indicating continued momentum. Despite a positive outlook for senior housing demand, I am cautious due to high debt levels and current valuation, leading to a hold rating.

Welltower Inc. Q3: Plenty Of Demand, But It's Too Expensive For Me

Welltower, Inc. is a REIT focused on senior housing and medical properties, benefiting from an aging population but currently offering a modest 2% dividend yield. The company's dividend has declined from $3.48 per share (2017-2019) to $2.44 in 2023, despite revenue recovery post-COVID. Concerns include low property yields, leverage risks, and reliance on private-pay residents, which may not support long-term dividend growth.

Welltower: Senior Housing Isn't A Growth Stock

AbbVie

Constellation Energy Corp

Ford Motor Company

Verizon

Consider these stock and fund picks now that the Federal Reserve's rate-cutting campaign is underway.

Best Stocks to Buy for a Fed Rate Cut

American Healthcare REIT Inc

Community Healthcare Trust

Diversified Healthcare Trust

Healthpeak Properties Inc

Global Medical REIT

Healthcare Realty Trust Inc

Sila Realty Trust Inc

Universal Health Realty Income Trust

Ventas

Unlike in traditional office, healthcare requires in-office interactions, which reduces the risk of ‘work from home'. Outpatient services are taking market share from inpatient (hospital) settings due to better costs and, in some cases, outcomes. America's rapidly aging population is a tailwind for all healthcare real estate.

MOBs, Office But No Need For Life Support

Welltower Inc. (NYSE:WELL ) Q3 2024 Earnings Conference Call October 29, 2024 9:00 AM ET Company Participants Matthew McQueen - General Counsel Shankh Mitra - Chief Executive Officer John Burkart - Chief Operating Officer Nikhil Chaudhri - Chief Investment Officer Timothy McHugh - Chief Financial Officer Conference Call Participants Jonathan Hughes - Raymond James Nick Joseph - Citi Ronald Kamdem - Morgan Stanley Nicholas Yulico - Scotiabank Austin Wurschmidt - KeyBanc Capital Markets John Pawlowski - Green Street Michael Carroll - RBC Capital Markets Juan Sanabria - BMO Capital Markets Joshua Dennerlein - Bank of America John Kilichowski - Wells Fargo Richard Anderson - Wedbush Wesley Golladay - Baird James Kammert - Evercore Michael Mueller - JPMorgan Omotayo Okusanya - Deutsche Bank Operator Thank you for standing by. My name is Brianna, and I will be your conference operator today.

Welltower Inc. (WELL) Q3 2024 Earnings Call Transcript

WELL's Q3 results reflect higher same-store net operating income for the senior housing operating portfolio, driven by strong revenue per occupied room.

Welltower's Q3 FFO Beats Estimates, Same-Store NOI Rises Y/Y

While the top- and bottom-line numbers for Welltower (WELL) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Welltower (WELL) Reports Q3 Earnings: What Key Metrics Have to Say

Welltower (WELL) came out with quarterly funds from operations (FFO) of $1.11 per share, beating the Zacks Consensus Estimate of $1.04 per share. This compares to FFO of $0.92 per share a year ago.

Welltower (WELL) Q3 FFO and Revenues Top Estimates

Welltower raised its annual funds from operations forecast on Monday, betting on resilient demand for the healthcare real estate investment trust's assisted living and senior housing properties.

Welltower raises annual FFO forecast on resilient demand for senior housing

TOLEDO, Ohio , Oct. 28, 2024 /PRNewswire/ -- Welltower® Inc. (NYSE: WELL) has issued the following business update which can be found at: https://welltower.com/business-update-October2024 About Welltower Welltower® Inc. (NYSE: WELL), an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. The Company invests with leading seniors housing operators, post-acute providers, and health systems to fund the real estate infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health care experience.

Welltower Issues Business Update

TOLEDO, Ohio , Oct. 28, 2024 /PRNewswire/ -- Welltower Inc. (NYSE:WELL) today announced results for the quarter ended September 30, 2024. Recent Highlights Reported net income attributable to common stockholders of $0.73 per diluted share Reported quarterly normalized funds from operations attributable to common stockholders of $1.11 per diluted share, an increase of 20.7% over the prior year Reported total portfolio year-over-year same store NOI ("SSNOI") growth of 12.6%, driven by SSNOI growth in our Seniors Housing Operating ("SHO") portfolio of 23.0% SHO portfolio year-over-year same store revenue increased 8.9% in the third quarter, driven by 310 basis points ("bps") of year-over-year average occupancy growth and Revenue Per Occupied Room ("RevPOR") growth of 4.9% SHO portfolio year-over-year SSNOI margin expanded by 300 bps in the third quarter driven primarily by strong RevPOR growth, which continued to meaningfully outpace Expense per Occupied Room ("ExpPOR") growth During the third quarter, we completed $2.4 billion of pro rata gross investments, including $2.2 billion in acquisitions and loan funding and $203 million in development funding Since the beginning of the year, we have closed or have definitive agreements to close $6.1 billion in pro rata acquisitions and loan funding Improved net debt to Adjusted EBITDA to 3.73x at September 30, 2024 from 5.14x at September 30, 2023 As of September 30, 2024, we had approximately $8.8 billion of available liquidity inclusive of $3.8 billion of available cash and restricted cash and full capacity under our $5.0 billion line of credit As previously announced, the Board of Directors approved a 10% increase in the quarterly dividend per share, reflecting our solid financial performance, low payout ratio owing to outsized levels of cash flow growth and the Board's confidence in the Company's strong growth prospects going forward Capital Activity and Liquidity Liquidity Update During the third quarter, net debt to consolidated enterprise value improved to 13.1% as of September 30, 2024 from 20.9% as of December 31, 2023.

Welltower Reports Third Quarter 2024 Results

Airbnb

Armada Hoffler Properties

CTO Realty Growth

Host Hotels & Resorts

Kimco Realty

NET Lease Office Properties

W. P. Carey

There are substantial valuation gaps among REIT sectors, with some justified by fundamentals and others representing mispricing, providing investment opportunities in undervalued sectors. Hotels and office REITs face significant challenges, including erratic earnings, high costs, and post-COVID demand shifts, making them risky investments despite low multiples. Diversified and retail REITs are undervalued; diversified REITs are misunderstood, and retail REITs have growth potential due to long-term lease roll-ups.

These REITs Trade At Discounts, But Should They?

DOC's Q3 FFO tops estimates. Results reflect a year-over-year rise in revenues and total merger-combined same-store cash (adjusted) NOI.

Healthpeak's Q3 FFO Beats Estimates, Same-Store NOI Rises

Besides Wall Street's top -and-bottom-line estimates for Welltower (WELL), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended September 2024.

What Analyst Projections for Key Metrics Reveal About Welltower (WELL) Q3 Earnings

On October 8, 2024, Welltower Inc. (WELL, Financial), a Delaware corporation, announced the filing of a prospectus supplement with the Securities and Exchange Commission. This supplement is linked to the prospectus dated April 1, 2022, which is part of the company's automatic shelf registration statement on Form S-3 (No.

Welltower Inc. (WELL) Files Prospectus Supplement for Common Stock Registration

A rise in healthcare spending by senior citizens, capital-recycling efforts and a healthy balance sheet are likely to support WELL.

Here's Why Welltower Stock is an Apt Portfolio Pick for Now

TOLEDO, Ohio , Oct. 7, 2024 /PRNewswire/ -- Welltower® Inc. (NYSE: WELL) today announced it will release third quarter 2024 financial results after the close of trading on the New York Stock Exchange on Monday, October 28, 2024. The Company will host a conference call and webcast on Tuesday, October 29, 2024, at 9:00 a.m.

Welltower Announces Date of Third Quarter 2024 Earnings Release, Conference Call and Webcast

Welltower provides an update on the Seniors Housing Triple-Net portfolio, as well as the sale of Brookdale Portfolio.

WELL Updates Seniors Housing NNN, Plans to Sell Brookdale Portfolio

WELL's senior housing operating portfolio is well-positioned to capitalize on an aging population and a rise in senior citizens' healthcare expenditures.

Welltower Stock Rallies 39.1% YTD: Will It Continue to Rise?

TOLEDO, Ohio , Sept. 9, 2024 /PRNewswire/ -- Welltower Inc. (NYSE: WELL) announced today that Chief Executive Officer, Shankh Mitra, will participate in a live panel at the Bank of America Securities 2024 Global Real Estate Conference.

Welltower to Participate in the BofA Securities 2024 Global Real Estate Conference

WELL's seniors housing operating portfolio is set to benefit from the aging population and rising healthcare spending. However, high competition is a concern.

Here's Why You Should Retain Welltower Stock in Your Portfolio

Welltower Inc. has seen a 49% stock increase and a steady 2% dividend over the past year, outperforming the REIT sector significantly. Despite favorable demographic trends and a solid portfolio, Welltower's AFFO growth per share has been lackluster, raising concerns about future dividend growth. The company's current valuation appears high, with a forward P/AFFO and P/FFO well above sector medians, suggesting limited upside potential.

Welltower: Aging Gracefully Or Out Of Touch? Stock That's Priced For Perfection

JPMorgan Chase & Co

Synchrony Financial

Wall Street is expecting the Federal Reserve to begin shifting gears in September following the Federal Open Market Committee's (FOMC) decision to leave interest rates unchanged at the current target rate of 5.25% – 5.50%, during its July policy meeting.

4 Stocks Ready to Soar If Rates Are Cut This September

PayPal

With cooling inflation and moderating economic growth, the current economic environment strongly suggests that the Federal Reserve is on the verge of cutting interest rates. Market analysts are currently pricing an 80% chance of a rate cut.

Rate Cuts a Near Certainty: 3 Stocks You Might Have Missed

Welltower (WELL) is likely to gain from a rise in healthcare spending by senior citizens and capital recycling activities. However, a high interest rate environment adds to its woes.

News for Welltower Stock (WELL)