Welltower
Owns senior living communities operated by partners and healthcare properties leased under triple-net contracts.
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Profile
Owns seniors and wellness housing across the United States, United Kingdom and Canada, generating resident fees through partner-operated communities and rent from triple-net properties. The dominant operating segment ties results to occupancy, pricing, labor costs and third-party execution.
Owns seniors and wellness housing across the United States, United Kingdom and Canada, spanning independent living, assisted living, memory care and British care homes. Its largest segment combines resident-fee revenue with third-party management: local partners run communities under incentive-based contracts, while qualified healthcare properties use RIDEA structures that expose results to property-level operations.
Also collects rent from triple-net seniors-housing and long-term/post-acute care properties, while a much smaller outpatient medical portfolio remains after a major disposition. Loans, joint ventures and private funds supplement direct property ownership. The Welltower Business System standardizes data, shared services and operating practices across the partner network; its data-science platform supports underwriting and capital allocation.
Results depend on occupancy, resident pricing, labor costs and execution by operators and tenants; healthcare regulation and REIT qualification rules constrain operating structures and distributions.
Company facts
Key statistics
Year to date +27.3% · Average volume (30d) 2.9M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 4, 2026 | KeyBanc | Reiterate | Overweight | $240 | $275 |
| Aug 3, 2026 | RBC Capital | Reiterate | Outperform | $238 | $260 |
| Jul 31, 2026 | Cantor Fitzgerald | Reiterate | Overweight | $230 | $260 |
| Jul 30, 2026 | Evercore ISI | Reiterate | Outperform | $208 | $260 |
| Jul 22, 2026 | Mizuho Securities | Target | $239 | $260 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 27, 2026Q2 FY26 | $0.62 | $0.61 | −1.1% | $3.40B | $3.54B | +4.2% | −1.92% |
| Apr 28, 2026Q1 FY26 | $0.68 | $1.04 | +53.2% | $3.12B | $3.35B | +7.4% | −1.00% |
| Feb 10, 2026Q4 FY25 | $0.59 | $1.13 | +91.5% | $2.86B | $3.18B | +11.3% | +3.51% |
| Oct 27, 2025Q3 FY25 | $1.30 | $1.34 | +3.1% | $2.96B | $2.69B | −9.2% | −1.59% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $2.39B | $2.52B | $2.63B | $3.13B | $3.31B | $3.54B | |
| Gross profit | $926.2M | $1.00B | $1.05B | $1.20B | $1.25B | $1.39B | |
| Operating income | $378.6M | $443.3M | $477.0M | −$943.7M | $558.4M | $589.2M | |
| Net income | $258.0M | $301.9M | $280.6M | $96.4M | $728.7M | $240.3M | |
| Diluted EPS | $0.40 | $0.45 | $0.40 | $0.14 | $1.02 | $0.33 | |
| Gross margin | 38.8% | 39.8% | 40.0% | 38.3% | 37.8% | 39.3% | |
| Operating margin | 15.8% | 17.6% | 18.1% | -30.1% | 16.9% | 16.6% |
Fiscal years (4-quarter sums)FY21 $4.71B · FY22 $5.78B · FY23 $6.48B · FY24 $7.85B · FY25 $10.67B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $1.97B · Total debt $19.72B · Total assets $69.88B · Shareholders' equity $46.41B
Dividends
Raised for 5 straight years — most recently to $0.85 from $0.74 in Aug 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 12, 2026 | Aug 12 | Aug 20 | $0.85 | raised from $0.74 |
| May 13, 2026 | May 13 | May 21 | $0.74 | |
| Feb 25, 2026 | Feb 25 | Mar 10 | $0.74 | |
| Nov 10, 2025 | Nov 11 | Nov 20 | $0.74 | |
| Aug 12, 2025 | Aug 12 | Aug 21 | $0.74 | raised from $0.67 |
| May 14, 2025 | May 14 | May 22 | $0.67 | |
| Feb 25, 2025 | Feb 25 | Mar 6 | $0.67 | |
| Nov 13, 2024 | Nov 13 | Nov 21 | $0.67 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 720.57M · Float 719.77M · 99.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 78.05M | 10.83% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 46.12M | 6.40% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 43.45M | 6.03% | 13F | Aug 13, 2026 |
| State Street Corp | 42.14M | 5.85% | 13F | Aug 7, 2026 |
| Capital International Investors | 39.50M | 5.48% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 26, 2026 | Andrew Gundlach | director | +2,500 | $242.06 |
| Aug 25, 2026 | Andrew Gundlach | director | +2,500 | $239.47 |
Peers
- Ventas
Closest large-cap peer; SHOP-led seniors housing REIT with outpatient medical and research.
- Omega Healthcare Investors
Dominant SNF triple-net REIT expanding into senior housing RIDEA and UK care homes.
- Healthpeak Properties
Diversified healthcare REIT re-entering senior housing via Janus Living REIT spin-off.
- Sabra Health Care REIT
Mid-cap REIT pivoting from SNF triple-net toward senior housing SHOP across US and Canada.
- CareTrust REIT
Fast-growing net-lease REIT adding SHOP and UK care homes alongside an SNF core.
- National Health Investors
Small-cap seniors housing REIT pivoting from triple-net leases toward a SHOP platform.
- American Healthcare REIT
Newly listed diversified healthcare REIT with fast-growing SHOP and integrated campus model.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Welltower | $238.07 | +0.02% | $171.48B | 126.0 | 87.0 | 13.6 | +40.9% |
| Ventas | $91.58 | −0.25% | $44.63B | 170.0 | 130.6 | 6.9 | +21.7% |
| Omega Healthcare Investors | $46.34 | +0.75% | $13.76B | 16.4 | 23.9 | 10.6 | −7.0% |
| Healthpeak Properties | $20.79 | −0.79% | $14.45B | 59.9 | 101.1 | 4.9 | +8.0% |
| Sabra Health Care REIT | $20.45 | −0.80% | $5.20B | 78.5 | 28.1 | 6.0 | +24.7% |
| CareTrust REIT | $39.03 | 0.00% | $9.22B | 24.2 | 25.2 | 17.0 | +5.1% |
| National Health Investors | $72.03 | 0.00% | $3.49B | 20.8 | 18.6 | 8.1 | −21.9% |
| American Healthcare REIT | $55.53 | −0.04% | $11.48B | 81.6 | 79.5 | 4.6 | +23.7% |
| Median | 59.9 | 28.1 | 6.9 | +8.0% |