Welltower (WELL)
NYSEReal EstateReit - Healthcare FacilitiesSnapshot 2026-07-07
$237.59+2.11%
Close 2026-07-07 · 1-day change
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Track WELL free→Warn: Management is running behind on a stated commitment.
Welltower grows seniors housing income 22% yearly. It raised net income guidance to $3.38 per share. Occupancy in outpatient medical properties improved to 96.9%. The company has strong cash flow and a stable management team.
Welltower trades at a very high price-to-earnings ratio of 121.5. Its dividend yield and free cash flow yield are very low at 1%. If seniors housing or outpatient occupancy weakens, growth could stall.
The market prices Welltower about 52% above our fair value of $156. Analysts expect 23% revenue growth, which aligns with management's strong growth targets. Our fair value is 37% below the Street median, reflecting valuation risk.
Breaks if: FCF per share falls below $4.5 in FY2025
Breaks if: EPS guidance falls below $3.0 per share in FY2026
Standing thesis, reviewed periodically — not a price target or advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Raise the guidance range for net income attributable to common stockholders.
Stated in 2 of last 2 quarters. Net income guidance was revised from $3.11-$3.27 to $3.24-$3.38 per diluted share. The upward revision indicates progress in increasing net income guidance.
“Net income guidance revised to $3.24 to $3.38 per diluted share.”
“Net income guidance was $3.11 to $3.27 per diluted share.”
Breaks if: Occupancy falls below 95% next year
Improve occupancy rates in Outpatient Medical properties.
Stated in 2 of last 2 quarters. Outpatient Medical occupancy improved from 95.5% in 2025-Q4 to 96.9% in 2026-Q1. The trajectory shows progress in enhancing occupancy rates.
“Outpatient Medical occupancy reached 96.9%.”
“Outpatient Medical occupancy was 95.5%.”
Breaks if: Seniors Housing NOI growth falls below 15% YoY next year
Focus on increasing the Net Operating Income from Seniors Housing Operating properties.
Stated in 2 of last 2 quarters. Seniors Housing Operating NOI increased by 22.1% year over year, from $435.7M in 2025-Q1 to $531.8M in 2026-Q1. The trajectory is delivering on management's stated priority.
“Seniors Housing Operating NOI increased by 22.1% year over year.”
“Seniors Housing Operating NOI increased by 20.4% year over year.”