WELL - Welltower Inc.
Welltower NYSE: WELL reported second-quarter results marked by higher senior housing occupancy, pricing gains and continued investment activity, while raising its full-year normalized funds from operations outlook.
WELL's Q2 FFO beat and 20.5% SHO SSNOI growth fuel a higher 2026 outlook, while acquisitions strengthen its seniors housing focus.
Welltower Inc. (WELL) Q2 2026 Earnings Call Transcript
While the top- and bottom-line numbers for Welltower (WELL) give a sense of how the business performed in the quarter ended June 2026, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Welltower (WELL) came out with quarterly funds from operations (FFO) of $1.6 per share, beating the Zacks Consensus Estimate of $1.55 per share. This compares to FFO of $1.28 per share a year ago.
TOLEDO, Ohio, July 27, 2026 /PRNewswire/ -- Welltower® Inc. (NYSE: WELL) has issued the following business update which can be found at: https://welltower.com/jul-27-26-business-update About Welltower Welltower Inc. (NYSE: WELL), an S&P 500 company, is positioned at the center of the silver economy, focusing on rental housing for aging seniors across the United States, United Kingdom, and Canada. Our portfolio of 2,500+ seniors and wellness housing communities are positioned at the intersection of housing and hospitality, creating vibrant communities for mature renters and older adults.
TOLEDO, Ohio, July 27, 2026 /PRNewswire/ -- Welltower Inc. (NYSE:WELL) today announced results for the quarter ended June 30, 2026. Second Quarter and Other Recent Highlights Reported net income attributable to common stockholders of $0.61 per diluted share Reported quarterly normalized funds from operations attributable to common stockholders of $1.60 per diluted share, an increase of 25.0% over the prior year Reported total portfolio year-over-year same store NOI ("SSNOI") growth of 15.5%, driven by SSNOI growth in our Seniors Housing Operating ("SHO") portfolio of 20.5% SHO portfolio organic same store revenue growth increased 9.2% year-over-year in the second quarter, resulting from 330 basis points ("bps") of average occupancy growth and 5.2% growth in Revenue Per Occupied Room ("RevPOR") Year-to-date, closed or under contract to close $15.5 billion of pro rata gross investments, including $9.4 billion completed in the six months ended June 30, 2026 and $6.1 billion closed or under contract to close subsequent to quarter end, excluding development funding.
Welltower trades at an extreme premium, with a 41x forward AFFO multiple and implied cap rates below 3%. WELL's short-term AFFO per share growth is strong, but margin expansion and cost controls are unsustainable long-term. The REIT's best move is to issue equity at these valuations, but future AFFO multiple compression poses significant downside risk.
Get a deeper insight into the potential performance of Welltower (WELL) for the quarter ended June 2026 by going beyond Wall Street's top-and-bottom-line estimates and examining the estimates for some of its key metrics.
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WELL heads into Q2 earnings with revenues and normalized FFO growth expected, backed by senior housing demand and muted supply.
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Welltower gets a buy for my initial rating, as it presents both a compelling dividend idea and a capital growth idea. Top-line revenue growth is proven over 5 years already, as the portfolio keeps expanding through acquisition, with a recent acquisition in Canada. The stock is favorably covered both by Moody's and Barclays.
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WELL climbs 20.9% in six months as seniors housing demand, acquisitions and portfolio moves fuel growth.
TOLEDO, Ohio, June 23, 2026 /PRNewswire/ -- Welltower® Inc. (NYSE: WELL) today announced it will release second quarter 2026 financial results after the close of trading on the New York Stock Exchange on Monday, July 27, 2026. The Company will host a conference call and webcast on Tuesday, July 28, 2026, at 9:00 a.m.
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