Welltower Inc
welltower.comWhat Do They Do?
Provides rental housing and care communities for older adults, and leases post-acute and outpatient medical properties to healthcare operators and providers.
10-K for FY2025, filed Feb 12, 2026Welltower Inc. (NYSE:WELL), a real estate investment trust (“REIT”) and S&P 500 company, is positioned at the center of the silver economy…View ↗
Our Seniors Housing Operating properties include wellness housing, independent living and independent supportive living, continuing care…View ↗
Our Triple-net properties offer services including independent living and independent supportive living (Canada), assisted living…View ↗
Outpatient Medical Buildings Our remaining outpatient medical portfolio, exclusive of held for sale properties, primarily consists of…View ↗
How Do They Make Money?
Seniors Housing Operating earns resident fees for housing and services, generally paid monthly as services are provided; tenants pay rent under leases, and borrowers pay interest on real estate loans.
10-K for FY2025, filed Feb 12, 2026For our Seniors Housing Operating segment, revenue from resident fees and services is predominantly service-based, and generally is…View ↗
Our Triple-net properties are primarily leased to operators under long-term, triple-net master leases that obligate the tenant to pay all…View ↗
Loans Our real estate loans are typically structured to provide us with interest income, principal amortization and transaction fees. Real…View ↗
-
10-K for FY2025, filed Feb 12, 2026
FY2025 revenue by reportable segment ↗
$10.8B
-
10-K for FY2025, filed Feb 12, 2026
$10.8B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Seniors Housing Operating
Recurring
10-K for FY2025, filed Feb 12, 2026 |
78%
FY2022: 72%
|
Seniors Housing Operating, FY2025
$8.5B Sources
|
Recurring |
|
Triple-net
Recurring
10-K for FY2025, filed Feb 12, 2026 |
11%
FY2022: 13%
|
Triple-net, FY2025
$1.2B Sources
|
Recurring |
|
Outpatient Medical
Recurring
|
7.2%
FY2022: 12%
|
Outpatient Medical, FY2025
$781.9M Sources
|
Recurring |
Who Are Their Customers?
Older adults pay resident fees for housing and services in seniors communities, which operating partners generally manage; care operators lease properties, and healthcare providers rent outpatient medical buildings.
10-K for FY2025, filed Feb 12, 2026Our Seniors Housing Operating segment accounted for 78%, 76% and 72% of total revenues for the years ended December 31, 2025, 2024 and…View ↗
Our Triple-net properties are primarily leased to operators under long-term, triple-net master leases that obligate the tenant to pay all…View ↗
Outpatient Medical Buildings Our remaining outpatient medical portfolio, exclusive of held for sale properties, primarily consists of…View ↗
For the year ended December 31, 2025, resident fees and services and rental income represented 78% and 18% of total revenues, respectively.…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 9 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Feb 12, 2026
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Jul 28, 2026
$463MView ↗
- ▲ +52%
- vs $304.6M in Q2 FY2025
10-Q for Q2 FY2026, filed Jul 28, 2026
Open tableView ↗
-
Jul 27, 2026
Completed a seniors housing acquisition, advanced medical-property sales and revised 2026 guidance
Completed a Canadian community acquisition, continued outpatient medical property sales and lowered net income guidance while raising normalized funds from operations guidance.
Sources
8-K, filed Jul 27, 2026
Amica Senior Lifestyles Acquisition On April 1, 2026, we completed the previously announced acquisition of a Canadian portfolio of 38…View ↗
Growing. Revenue grew 2.3x in 4 years, from $4.7B in FY2021 to $10.8B in FY2025, about 23% a year.
Loading...
