Financial Performance - Total NOI for 3Q24 increased to $541,128, representing a 12.6% change from the same period in 3Q23[10] - Seniors Housing Operating properties generated a NOI of $278,849, a 23.0% increase year-over-year[10] - Outpatient Medical properties reported a NOI of $127,766, reflecting a 2.2% growth compared to 3Q23[10] - Total revenues for the seniors housing operating segment reached $1,572,923 in Q3 2024, with operating expenses of $1,167,375[16] - Total revenues for 3Q24 reached $209,602,000, reflecting an increase from $202,352,000 in 2Q24[22] - NOI for 3Q24 was $144,807,000, with an NOI margin of 69.1%[22] - Same store revenues for Q3 2023 were $966,636, with a year-over-year revenue growth rate of 8.9%[15] - Total revenues for Q3 2023 reached $1,684,899,000, an increase from $1,221,753,000 in Q3 2022, representing a growth of approximately 38%[46] - Net operating income for Q3 2023 was $673,390,000, compared to $288,290,000 in Q3 2022, reflecting a significant increase of about 134%[46] - The company reported a total property operating expense of $1,011,509,000 for Q3 2023, which is an increase from $933,463,000 in Q3 2022, marking an increase of about 8%[46] Occupancy and Property Metrics - The occupancy rate for Seniors Housing Operating reached 84.3%, while Outpatient Medical achieved 94.4%[11] - Total occupancy across the seniors housing operating portfolio improved to 83.8% by Q3 2024, up from 80.7% in Q3 2023[16] - The company operates 620 properties with a total of 64,761 units, reflecting stable unit counts across the quarters[15] - The average age of properties in the portfolio is 20 years, indicating a mature asset base[9] - The total portfolio consists of 426 properties with a total square footage of 21,320,290[22] - Average occupied units per month reached 91,281, with 70,424 in the United States, 4,147 in the United Kingdom, and 16,710 in Canada[73] Revenue Sources and Mix - The revenue mix for Medicare in Long-Term/Post-Acute Care was 28.1%, highlighting reliance on government programs[11] - The remaining properties accounted for 54.5% of total NOI, highlighting a diversified revenue stream[13] - The company has a diversified rental income portfolio, with Kelsey-Seybold contributing $52,616,000, accounting for 8.9% of total rental income[23] - Health system affiliated properties account for 89.7% of NOI[24] - Investment grade tenants represent 57.4% of rental income[24] Future Outlook and Development - Future outlook includes continued focus on market expansion and potential acquisitions to enhance portfolio diversity[8] - The company has 40 development projects with a total investment of $672,760,000[31] - Future funding projections for seniors housing amount to $365,510,000, with unfunded commitments of $519,223,000[38] - The company anticipates future funding of $693,262,000 for total development projects[38] - The company is focused on market expansion and new product development, although specific details were not disclosed in the call[58] Debt and Financial Health - The total debt of the company amounts to $16,944,442[43] - The company has a net obligation of $13,880,565[43] - Total consolidated secured debt amounts to $2,581,878,000, with a weighted average interest rate of 4.34%[59] - The weighted average maturity of the debt is 5.5 years, with 12.93% of the total debt maturing thereafter[59] - The leverage ratio indicates a focus on managing long-term debt relative to total capitalization, essential for financial health[67] Adjusted Metrics and Ratios - Adjusted EBITDA for the twelve months ended September 30, 2024, was $3,042,145,000, with a net debt to EBITDA ratio of 3.73x[50] - Interest expense for the twelve months ended September 30, 2024, was $574,366,000, with a corresponding interest coverage ratio of 5.07x[50] - EBITDAR coverage for Long-Term/Post-Acute Care was reported at 1.74, indicating strong financial health[11] - The company expects to maintain capitalization ratios consistent with its current profile, indicating a stable financial outlook[67] Challenges and Adjustments - Significant adjustments in NOI include impairment of assets totaling $43,331,000 for Q1 2024[67] - The company reported a loss on real estate dispositions of $272,266,000 for Q3 2024, highlighting challenges in asset management[67] - Non-cash NOI on same store properties for Q3 2023 was $(26,713,000), indicating adjustments made for financial reporting[71] - NOI attributable to non-same store properties was $(165,506,000) for Q3 2023, reflecting challenges in that segment[71] Strategic Focus - Welltower's focus on expanding its presence in high-growth markets in the U.S., Canada, and the U.K. continues to drive its investment strategy[78] - The company emphasizes the importance of innovative care delivery models to enhance wellness and healthcare experiences[78] - Welltower remains committed to maintaining its REIT qualification amidst various market challenges and regulatory changes[75]

TOLEDO, Ohio, Oct. 28, 2024 /PRNewswire/ -- Welltower Inc. (NYSE:WELL) today announced results for the quarter ended September 30, 2024.Recent Highlights Reported net income attributable to common stockholders of $0.73 per diluted share Reported quarterly normalized funds from operations attributable to common stockholders of $1.11 per diluted share, an increase of 20.7% over the prior year Reported total portfolio year-over-year same store NOI ("SSNOI") growth of 12.6%, driven by SSNOI growth in our Senior ...

Wall Street analysts forecast that Welltower (WELL) will report quarterly earnings of $1.04 per share in its upcoming release, pointing to a year-over-year increase of 13%. It is anticipated that revenues will amount to $1.95 billion, exhibiting an increase of 17.3% compared to the year-ago quarter.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Prior ...

Welltower Inc. (WELL) owns a diversified portfolio of healthcare real estate assets in the key markets of the United States, Canada and the U.K. The favorable senior housing industry, capital-recycling efforts and a healthy balance sheet are likely to continue aiding the company to ride the growth curve. This Toledo, OH-based healthcare real estate investment trust (REIT) has gained 36.8% in the past six months compared with the industry's 13.8% growth. Analysts seem bullish on this Zacks Rank #2 (Buy) comp ...

TOLEDO, Ohio, Oct. 7, 2024 /PRNewswire/ -- Welltower® Inc. (NYSE: WELL) today announced it will release third quarter 2024 financial results after the close of trading on the New York Stock Exchange on Monday, October 28, 2024. The Company will host a conference call and webcast on Tuesday, October 29, 2024, at 9:00 a.m. ET to discuss these results. The Company's earnings release will be available in the Investors section of the Company's website. Investors and other interested parties may access the confer ...

Welltower Inc. (WELL) recently provided an update on the Seniors Housing Triple-Net (SH NNN) portfolio. It also plans to sell the Brookdale Portfolio for $175 million. The company is reducing SH NNN exposure to secure attractive returns for shareholders and bolster long-term growth prospects. In the recent update, Welltower noted that it has completed the conversion of five communities that were previously under a triple-net lease with Sagora to a Seniors Housing Operating (RIDEA) structure. Per the second- ...

Shares of Welltower (WELL) have rallied 39.1% year to date, outperforming the industry's growth of 9.9%. Welltower owns a well-diversified portfolio of healthcare real estate assets in the key markets of the United States, Canada and the U.K. Given an aging population and an expected rise in senior citizens' healthcare expenditure, Welltower's senior housing operating (SHO) portfolio and outpatient medical (OM) segment are well-poised to benefit from this positive trend. Analysts seem positive on this healt ...

Welltower Inc.'s (WELL) senior housing operating (SHO) portfolio is well-poised to benefit from an aging population and a rise in healthcare expenditure by senior citizens. Moreover, portfolio restructuring initiatives and capital-recycling efforts augur well. However, competition in the senior housing market and high interest rates pose key concerns. The REIT, carrying a Zacks Rank #3 (Hold) at present, reported second-quarter 2024 normalized funds from operations (FFO) per share of $1.05, which surpassed ...

Maskot Introduction Shares of Welltower Inc. (NYSE:WELL) have performed exceptionally well for investors who've been able to hold on over the most recent one year period. Over the last twelve months, shares are up 49% on top of the steady 2% dividend the company pays to shareholders. While a large part of this total return is due to the overall market moving higher as well as lower interest rates expected going forward (a factor that's generally seen as a positive tailwind for REIT and other real estate rel ...

Shares of Welltower Inc. (WELL) have gained 29.3% in the year-to-date period compared with the industry's growth of 1.6%. This Toledo, OH-based healthcare real estate investment trust (REIT) owns a well-diversified portfolio of healthcare real estate assets in the key markets of the United States, Canada and the U.K. Its portfoliorestructuring initiatives and capital-recycling activities have aided Welltower in riding the growth curve so far. A healthy balance sheet position will likely support its growth e ...