WELL · Welltower Inc.

Welltower Inc. announced robust first quarter 2026 results, highlighted by significant growth in its Seniors Housing Operating (SHO) segment. Normalized FFO attributable to common stockholders rose 23% year-over-year to $1.47 per diluted share, driven by substantial operational improvements. The SHO portfolio delivered 22.1% Same Store NOI growth, supported by 370 basis points of average occupancy growth and a 5.0% increase in Revenue Per Occupied Room (RevPOR). This performance underscores the strong demand dynamics in the seniors housing sector and the company's operational leverage.

Financially, the company maintained a strong balance sheet with Net Debt to Adjusted EBITDA decreasing to 2.73x and liquidity totaling approximately $11.1 billion. During the quarter, Welltower executed $3.3 billion in pro rata gross investments and completed $2.8 billion in dispositions and loan repayments. Post-quarter, the company closed the acquisition of a Canadian seniors housing portfolio from Amica Senior Lifestyles for C$4.1 billion. Management raised full-year 2026 guidance, increasing the Net Income range to $3.24-$3.38 per share and the Normalized FFO range to $6.21-$6.35 per share, reflecting confidence in continued operational momentum. The Board declared a quarterly dividend of $0.74 per share, marking the 220th consecutive quarterly cash dividend.