Welltower Q1 normalized FFO per share rises 23% on portfolio expansion

Welltower

28/04/2026 21:37

Overview

U.S. senior housing REIT's Q1 normalized FFO per share rose 23% yr/yr

Same store NOI grew 16.4%, driven by 22.1% growth in seniors housing operating portfolio

Company completed C$4.1 bln acquisition of 38 Canadian seniors housing communities, as previously announced

Outlook

Welltower raises 2026 net income guidance to $3.24-$3.38 per diluted share

Company increases 2026 normalized FFO guidance to $6.21-$6.35 per diluted share

Welltower expects blended same store NOI growth of 12.25%-16.00% in 2026

Result Drivers

OCCUPANCY AND PRICING - Co said 9.5% yr/yr organic revenue growth in seniors housing operating portfolio was driven by 370 bps average occupancy growth and 5.0% increase in revenue per occupied room

PORTFOLIO EXPANSION - Co completed C$4.1 bln acquisition of 38 Canadian seniors housing communities and entered forward purchase agreements for five properties under development

CAPITAL-LIGHT REVENUE - Co expanded capital-light revenue streams through licensing of its data science platform to Public Storage and a global private equity real estate firm

Company press release: ID:nPn2hs9d7a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Rental Income
$453.84 mln
Q1 Dividend
$0.74


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the specialized reits peer group is "buy"

Wall Street's median 12-month price target for Welltower Inc is $230.00, about 9.5% above its April 27 closing price of $210.00

The stock recently traded at 71 times the next 12-month earnings vs. a P/E of 74 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)