Earnings summaries and quarterly performance for WELLTOWER.
Executive leadership at WELLTOWER.
Shankh Mitra
Detailed
Chief Executive Officer
CEO
JS
Jeff Stott
Chief Technology Officer
JB
John Burkart
Vice Chairman and Chief Operating Officer
LG
Logan Grizzel
Chief Innovation Officer
MM
Matthew McQueen
Chief Legal Officer and General Counsel
NC
Nikhil Chaudhri
Co-President and Chief Investment Officer
SB
Swagat Banerjee
Chief Data Officer
TM
Timothy McHugh
Co-President and Chief Financial Officer
TJ
Tucker Joseph
Chief Information Officer
Board of directors at WELLTOWER.
Research analysts who have asked questions during WELLTOWER earnings calls.
AW
Austin Wurschmidt
KeyBanc Capital Markets Inc.
7 questions for WELL
Also covers: AHR, AIV, AMH +20 more
Juan Sanabria
BMO Capital Markets
7 questions for WELL
Also covers: AMH, BRX, CTRE +21 more
MC
Michael Carroll
RBC Capital Markets
7 questions for WELL
Also covers: AHR, ARE, COLD +18 more
RK
Ronald Kamdem
Morgan Stanley
7 questions for WELL
Also covers: AAT, ADC, AHR +37 more
JH
Jonathan Hughes
Raymond James Financial
5 questions for WELL
Also covers: CTRE, HR, MRT +3 more
VM
Vikram Malhotra
Mizuho Financial Group, Inc.
5 questions for WELL
Also covers: ALX, ARE, BXP +19 more
FG
Farrell Granath
Bank of America
4 questions for WELL
Also covers: ADC, AHR, ARE +15 more
JK
James Kammert
Evercore ISI
4 questions for WELL
Also covers: ADC, ARE, CHCT +6 more
John Kilichowski
Wells Fargo & Company
4 questions for WELL
Also covers: ADC, CTRE, EPR +17 more
MM
Michael Mueller
JPMorgan Chase & Co.
4 questions for WELL
Also covers: AKR, BRX, CBL +27 more
Nicholas Yulico
Scotiabank
4 questions for WELL
Also covers: AHR, ALX, AVB +20 more
OO
Omotayo Okusanya
Deutsche Bank AG
4 questions for WELL
Also covers: AMH, ARE, AVB +43 more
RA
Richard Anderson
Wedbush Securities
4 questions for WELL
Also covers: AIV, ARE, AVB +25 more
WG
Wesley Golladay
Robert W. Baird & Co.
4 questions for WELL
Also covers: ADC, AHR, ARE +25 more
Emily Meckler
Green Street
3 questions for WELL
Also covers: HR, OHI
Michael Goldsmith
UBS
3 questions for WELL
Also covers: ADC, AHR, AMH +39 more
Nick Yulico
Scotiabank
3 questions for WELL
Also covers: ALX, AVB, CPT +7 more
JK
Jim Kammert
Evercore
2 questions for WELL
Also covers: ARE, DOC, FCPT +3 more
JD
Joshua Dennerlein
BofA Securities
2 questions for WELL
Also covers: AHR, AMH, ARE +20 more
Michael Stroyeck
Green Street Advisors, LLC
2 questions for WELL
Also covers: AHR, CTRE, DOC +4 more
MM
Mike Mueller
JPMorgan Chase & Co.
2 questions for WELL
Also covers: COLD, CURB, DOC +13 more
Nick Joseph
Citigroup Inc.
2 questions for WELL
Also covers: ADC, AIV, ARE +22 more
Rich Anderson
Cantor Fitzgerald
2 questions for WELL
Also covers: ARE, CDP, CPT +10 more
SB
Seth Burke
Citi
2 questions for WELL
WJ
William John Kilichowski
Wells Fargo
2 questions for WELL
Also covers: ADC, CTRE, EPR +14 more
GD
Georgi Dinkov
Mizuho
1 question for WELL
Also covers: ARE, DLR, MPW +2 more
JK
John Kukowski
Wells Fargo
1 question for WELL
John Pawlowski
Green Street
1 question for WELL
Also covers: AIV, AMH, AVB +15 more
Nicholas Joseph
Citigroup
1 question for WELL
Also covers: AMH, ARE, CUBE +13 more
SB
Seth Berge
Citigroup
1 question for WELL
Also covers: BDN, BXP, CBRE +5 more
Recent press releases and 8-K filings for WELL.
Welltower reports Q4 2025 results
WELL
Earnings
Guidance Update
New Projects/Investments
- Q4 performance: total portfolio same-store NOI +15%, SHOP portfolio +20.4%, occupancy +400 bps, revenue +9.6%, and margin expansion of 270 bps
- Capital allocation: completed $11 billion of net investments in 2025, primarily senior housing, funded largely by the $7.2 billion outpatient medical sale with no near-term earnings dilution
- Private funds launch: held final close of Senior Housing Equity Fund One at $2.5 billion equity (50% deployed) and initiated the Senior Housing Debt Fund
- Balance sheet & outlook: Q4 normalized FFO $1.45 per share (+28.3% YoY), net debt/EBITDA 3.03×, $5.2 billion cash on hand; 2026 normalized FFO guidance of $6.09–$6.25 per share
Feb 11, 2026, 2:00 PM
Welltower reports Q4 2025 results
WELL
Earnings
M&A
New Projects/Investments
- Welltower delivered 36% revenue growth, 32% EBITDA growth, and 22% FFO per share growth in 2025, and reported Q4 same-store net operating income growth above 20% for the 13th consecutive quarter.
- Organic revenue growth was 9.6%–10%, driven by 400 basis points of occupancy gains, healthy rate increases, and 270 basis points of margin expansion in Q4.
- The company executed $11 billion of net investment activity, acquiring over 1,000 properties, funded largely by the $7.2 billion sale of its outpatient medical business and $1.3 billion in skilled nursing dispositions.
- Welltower launched its private funds management platform, securing $2.5 billion of equity commitments for its U.S. Senior Housing Fund One and closing the first round of its Senior Housing Debt Fund.
Feb 11, 2026, 2:00 PM
Welltower reports Q4 2025 earnings and 2026 guidance
WELL
Earnings
Guidance Update
M&A
- Net income of $0.14 per diluted share; normalized FFO of $1.45 per share, up 28.3% YoY; total portfolio same-store NOI grew 15%, led by SHOP NOI growth of 20.4%.
- Full-year 2026 outlook: net income of $3.11–$3.27 per share; normalized FFO of $6.09–$6.25 per share (midpoint $6.17), a $0.88 increase vs. 2025.
- Q4 dispositions of $9.5 billion, funding $13.8 billion of investments; net debt/EBITDA at 3.03x (down ~0.5x YoY), with $5.2 billion cash on hand and ~$5.7 billion of investable capital for 2026.
- 13th consecutive quarter of >20% SHOP NOI growth, driven by 400 bps occupancy gains and 270 bps margin expansion; deployed $11 billion net capital in 2025 across 90 transactions, raising SHOP concentration to ~70%.
Feb 11, 2026, 2:00 PM
Welltower reports Q4 2025 earnings
WELL
Earnings
Guidance Update
New Projects/Investments
- Q4 2025 same-store NOI rose 20.4% YOY, driven by 400 bps occupancy gain, 9.6% RevPOR growth and a 270 bps margin expansion to 30.0%.
- Full-year 2025 delivered 9.7% organic revenue growth, 21.5% same-store NOI growth, $11 B of pro rata net investments and 22% normalized FFO/share growth.
- Completed the sale of $5.2 B of outpatient medical assets in Q4 and generated $6.4 B of net investment activity, accelerating transition to pure-play seniors housing.
- FY2026 guidance: total portfolio SSNOI growth of 11.25%–15.75%, SHO SS NOI growth of 15.0%–21.0%, and normalized FFO/share of $6.17 at the midpoint.
- Maintained a strong balance sheet with net debt/Adj. EBITDA of 3.0x, $10.2 B of available liquidity and A-Stable / A3 Stable ratings.
Feb 11, 2026, 2:00 PM
Welltower announces Q4 2025 earnings release
WELL
Dividends
Guidance Update
Debt Issuance
- S&P Global Ratings and Moody’s upgraded Welltower’s credit ratings to A- and A3 with stable outlooks, reflecting strengthened leverage and operating performance.
- The Board approved a 10.4% dividend increase to $0.74 per share, marking the 219th consecutive quarterly payout.
- Net debt to consolidated enterprise value improved to 10.0% as of December 31, 2025, down from 12.9% a year earlier, aided by over $23 billion of capital raised in 2025.
- Welltower introduced RIDEA 6.0 operating contracts and established a $10 million annual fellowship grant to reward frontline staff at top-performing communities.
- For 2026, Welltower issued guidance targeting $3.11–$3.27 in net income per share and $6.09–$6.25 in normalized FFO per share.
Feb 10, 2026, 9:05 PM
Welltower reports Q4 2025 results
WELL
Earnings
Dividends
Guidance Update
- Reported net income per diluted share of $0.14 and normalized FFO per diluted share of $1.45, a 28.3% increase year-over-year.
- Achieved 15.0% same store NOI growth, driven by 20.4% in Seniors Housing Operating and 9.6% organic same store revenue growth from improved occupancy and RevPOR.
- Completed $13.9 billion of pro rata gross investments and $7.5 billion of dispositions in the quarter, including UK acquisitions and OM portfolio sales.
- Ended Q4 with net debt to adjusted EBITDA of 3.03× and approximately $10.2 billion of available liquidity.
- Declared a Q4 dividend of $0.74 per share and issued 2026 guidance of $3.11–$3.27 net income and $6.09–$6.25 normalized FFO per diluted share.
Feb 10, 2026, 9:05 PM
WELL Health expands credit facility and acquires e-consult platform
WELL
M&A
Debt Issuance
- Completed strategic acquisition of a majority stake in an Alberta e-consult platform and eight primary care clinics, adding ~$45 M in proforma annual revenue at ~48% gross margin and >20% Adjusted EBITDA.
- Upsized and extended senior secured credit facility to $400 M (plus $100 M accordion) through January 2030, with leverage ratio expected at <3.0x as of December 31, 2025.
- Executed 20 clinic acquisitions in 2025 (vs. 10 in 2024), deploying $77 M, a >400% increase in capital deployed year-over-year.
Feb 4, 2026, 12:01 PM
WELL Health updates on WELLSTAR growth and strategic wins
WELL
M&A
Revenue Acceleration/Inflection
- WELLSTAR's OceanMD was awarded a provincial eReferral contract, immediately boosting ARR by 16% and leveraging a network of over 1.7 million annual eReferrals with 20,000 physicians and 3,800 clinics nationwide.
- In Q3, WELLSTAR generated $18.3 million in revenue, up 67% YoY, with 26% organic growth and ARR up 63% to $66.0 million as of September 30, 2025.
- Signed three M&A transactions in November, including the acquisition of AI scribe Mutuo and two billing assets expected to add $4 million in annualized revenue with margins above 20%.
- Completed a $62 million Series B equity financing on October 31, 2025, to accelerate its M&A pipeline and pursue a $100 million annualized revenue run rate target.
Nov 13, 2025, 12:01 PM
WELLSTAR announces C$62 M Series B financing for pre-spinout growth
WELL
Convertible Preferred Issuance
- WELLSTAR, majority-owned subsidiary of WELL Health, agreed to a C$62 million Series B preferred share placement at C$1.50 per share, led by Mawer, Edgepoint, PICTON and management; expected to close early December 2025.
- The financing builds on a C$50.4 million Series A raise in December 2024 and will fund future acquisitions, AI innovation, organic growth and general corporate purposes.
- Upon closing, WELL will retain majority economic and voting interest; Series B shares convert into subordinate voting shares upon a qualifying liquidity event and accrue dividends from 2026 onward.
Oct 31, 2025, 12:15 PM
Welltower enters $7.5 billion ATM equity distribution agreement
WELL
- On October 28, 2025, Welltower Inc. entered into a new equity distribution agreement with Welltower OP LLC and a syndicate of sales agents, terminating its prior March 28, 2025 arrangement.
- The agreement allows the Company to offer and sell up to $7.5 billion of common stock “at-the-market” through any Sales Agent over time.
- Welltower may also enter into forward sale agreements under which shares are borrowed and sold by Forward Sellers, with options for physical settlement or cash/net-share settlement at maturity.
- Sales Agents acting as agents for Issuance Shares will receive up to 1.50% of the sales price as compensation.
Oct 28, 2025, 2:01 PM
Quarterly earnings call transcripts for WELLTOWER.
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