Welltower Inc.
WELL - Insider Information
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+ FollowMarket Cap$173.31B
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Earnings Call Q3 2026
October 27, 2026 - AI Summary
Strong Q3 operating + earnings momentum (good):
- Revenue +38% YoY and adjusted EBITDA +35% YoY.
- FFO per share +~25% (nearly 25% FFO/share growth stated).
- Continued very strong cash-flow economics in senior housing: SHOP same-store NOI +~21% YoY and SHOP flow-through to cash flow reached a record ~66%.
- SHOP: occupancy gain +320 bps and RevPOR +5.3%, with organic revenue growth >9%; expenses contained (ExpPOR +~80 bps; SHOP OpEx +4.3% YoY).
Full-year 2026 guidance raised (forecast/upside):
- Company raised the midpoint of full-year normalized FFO outlook by $0.10/share to $6.50/share.
- Implies ~+22.9% normalized FFO per share growth for 2026 vs. 2025 (on a larger base).
- Guidance assumptions: total portfolio same-store NOI ~15% to 16.25% YoY.
- Senior housing operating outlook (key driver):
- Revenue growth midpoint ~9.3%, with RevPOR +5.1% and ~+350 bps occupancy increase YoY, plus ExpPOR ~+60 bps (expenses very controlled).
Demand-supply + pricing power shift as occupancy nears saturation (opportunity):
- Luxury senior living demand remained resilient: summer occupancy averaged +120 bps sequentially from Q2 (and exceeded last year’s sequential gain).
- As occupancy approaches/clears 90%, management expects an increasing share of growth driven by pricing (rate) rather than occupancy (“handoff from occupancy to pricing”).
- In the U.S.: portfolio RevPAR +5.5% and traditional senior living RevPAR +5.8%; managers stress quarterly noise is less important than the underlying trend.
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$219.91
11.3% downside
Current Fair Value
11.3% downsideOvervalued by 11.3% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $173.31 Billion |
|---|---|
| Enterprise Value | $191.07 Billion |
| Annual dividend | $3.07 |
| Dividend yield | 1.31% |
| Earnings per Share | $1.41 |
| Beta | 0.75 |
| Outstanding Shares | 724,329,000 |
Return
| Return on Equity | 3.15% |
|---|---|
| Return on Assets | 2.09% |
| Return on Invested Capital | 1.53% |
Valuation & Multiples
| P/E Ratio | 113.34 |
|---|---|
| PEG | 266.21 |
| Price to Sales | 13.05 |
| Price to Book Ratio | 3.81 |
| Enterprise Value to Revenue | 13.83 |
| Enterprise Value to EBIT | 185.56 |
| Enterprise Value to Net Income | 130 |
| Total Debt to Enterprise | 0.1 |
| Debt to Equity | 0.42 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 26, 2026
EPS Estimate
$0.64
Consensus analyst estimateRevenue Estimate
$3.64 B
Consensus analyst estimateNext Earnings Call
Expected Date
February 9, 2027
EPS Estimate
$0.69
Consensus analyst estimateRevenue Estimate
$3.84 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 1.00, calls and puts are about even.
| Put/Call Ratio | 1.0000▲ 30.07% |
|---|---|
| Total Calls | 100▼ 100.00% |
| Total Puts | 100▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 3.28%▼ 98.60% |
|---|---|
| Total Invested | $5.32B▼ 96.73% |
| Investors Holding | 623▼ 1024.00% |
About Welltower Inc
712 employees
CEO: Thomas Derosa
Welltower Inc., listed on the NYSE as WELL and a proud member of the S&P 500, is a Toledo, Ohio-headquartered company spearheading the evolution of healthcare infrastructure. As a Real Estate Investment Trust (REIT), Welltower strategica...