Welltower Reports Third Quarter 2026 Results
Welltower reported Q3 2026 net income of $415 million ($0.54 per diluted share) and normalized FFO of $1.67 per diluted share, up 24.6% year over year. Same store NOI grew 15.8%, led by 21.0% growth in the Seniors Housing Operating portfolio on 320 bps of occupancy gains and 5.3% RevPOR growth; total revenues rose to $3.72 billion from $2.69 billion a year ago. The company raised full-year normalized FFO guidance to $6.47-$6.53 per share from $6.36-$6.44 and declared a $0.85 quarterly dividend, its 222nd consecutive quarterly payout at a 51% normalized FFO payout ratio.
Key figures
- Eps
- 0.54
- Revenue
- 3715777000
- Guidance
- FY2026 net income attributable to common stockholders raised to $3.31-$3.37 per diluted share (from $3.11-$3.19); normalized FFO raised to $6.47-$6.53 per diluted share (from $6.36-$6.44); blended SSNOI growth 15.0%-16.25%
- Revenue Yoy
- 38.4%
- Ssnoi growth
- 15.8%
- Revpor growth
- 5.3%
- Ytd investments
- $21.0 billion pro rata gross investments closed or under contract
- Sho ssnoi growth
- 21.0%
- Net debt to ebitda
- 3.02x
- Available liquidity
- $9.5 billion
- Nareit ffo per share
- 1.42
- Occupancy growth bps
- 320
- Q3 gross investments
- $4.1 billion
- Sho ss revenue growth
- 9.1%
- Normalized ffo per share
- 1.67
- Declared dividend per share
- 0.85
- Normalized ffo payout ratio
- 51%
- Normalized ffo per share yoy
- 24.6%
- Consecutive quarterly dividends
- 222
- Q3 dispositions and loan repayments
- $484 million
AI analysis
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