Analyst Consensus ?
ConsensusBuy35 ratings
Bullish2777.1%
Neutral822.9%
Bearish00.0%
Welltower Inc. · WELL · FY2024 Q4 · Calendar Q1 2025
Welltower enters 2025 with strong occupancy and acquisition momentum
The supplied analysis supports a constructive, but not risk-free, view of Welltower's operating trajectory: strong occupancy, same-store NOI growth, acquisitions, and deleveraging provide evidence of durable demand and operating leverage, while labor, financing, expense, regulatory, and execution risks remain important tests.
Reported After market closeNYSEReal Estate
$171.01B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $0.40
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $2.19B
Revenue surprise
—
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+2.2%
Event window
SPY move
-0.3%
Same window
Abnormal move
+2.5%
Stock minus SPY
Volume
1.5×
Versus trailing sessions
Subsequent drift
-0.4%
Up to 20 sessions
WELLSPY benchmark
Ask FN2 about WELL FY2024 Q4
Transcript, numbers and history already loaded
What drove WELL's +2.2% move after FY2024 Q4 earnings?What changed in WELL's guidance and outlook in FY2024 Q4?Give me the bull and bear case for WELL after FY2024 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, the company reported stronger Q4 operating momentum, raised 2025 guidance, expanded its acquisition pipeline to $2 billion under contract, and reduced net debt/EBITDA to about 3.5x while continuing its technology-platform rollout.
Guidance delta
Raised: 2025 guidance calls for 9.25%–13% portfolio NOI growth and midpoint FFO of $4.87 per share.
Key takeaways
- Record occupancy and 24% same-store NOI growth marked a strong Q4 2024.
- Management highlighted $2 billion of 2025 acquisitions under contract across 27 transactions.
- Operating and data-science platforms remain central to efficiency and margin expansion.
- Net debt/EBITDA declined to about 3.5x, with $9 billion of liquidity available.
Management priorities
- Close approximately $2 billion of early-2025 acquisitions and build regional density.
- Roll out the end-to-end operating technology platform across the portfolio.
- Expand private-funds management after regulatory clearance.
- Maintain disciplined capex and pursue further capital-light transitions.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$237.32Current
$80Low
$186.68Average
$275High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 25, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Wells Fargo | Overweight | Overweight | Maintain | Oct 19, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Oct 13, 2026 |
| JP Morgan | Overweight | Neutral | Upgrade | Sep 24, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Sep 21, 2026 |
| Scotiabank | Sector Outperform | Sector Outperform | Maintain | Sep 2, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Sep 1, 2026 |
| Keybanc | Overweight | Overweight | Maintain | Aug 4, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Aug 3, 2026 |
| Citigroup | Buy | Buy | Maintain | Jul 31, 2026 |
| Cantor Fitzgerald | Overweight | Overweight | Maintain | Jul 31, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Jul 22, 2026 |
| UBS | Buy | Buy | Maintain | Jul 8, 2026 |
| Deutsche Bank | Buy | Buy | Maintain | Jul 1, 2026 |
| Jefferies | Buy | Buy | Maintain | May 13, 2026 |
| RBC Capital Mkts | Outperform | Sector Perform | Upgrade | Feb 28, 2025 |
| Wedbush | Outperform | Neutral | Upgrade | Feb 14, 2025 |
| Raymond James | Strong Buy | Outperform | Upgrade | Nov 9, 2023 |
| Baird | Neutral | Neutral | Maintain | Sep 14, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Apr 3, 2023 |
| Berenberg | Buy | Buy | Maintain | Aug 16, 2022 |
| SMBC Nikko | Neutral | Outperform | Downgrade | Aug 11, 2022 |
| BMO Capital | Outperform | Market Perform | Upgrade | Aug 26, 2021 |
| Wolfe Research | Outperform | Outperform | Maintain | Jun 15, 2021 |
| CapitalOne Southecoast | Overweight | Equal Weight | Upgrade | May 21, 2021 |
| B of A Securities | Buy | Neutral | Upgrade | Mar 30, 2021 |
| Stifel | Hold | Hold | Maintain | Sep 2, 2020 |
| Stifel Nicolaus | Buy | Buy | Maintain | Sep 3, 2019 |
| Hilliard Lyons | Neutral | Underperform | Upgrade | Apr 27, 2018 |
| Bank of America | Neutral | Neutral | Maintain | Mar 8, 2018 |
| SunTrust Robinson Humphrey | Hold | Buy | Downgrade | Jan 19, 2017 |
| Mitsubishi UFJ | Overweight | Neutral | Upgrade | Jan 5, 2017 |
| Stephens & Co. | Overweight | Overweight | Maintain | Sep 14, 2016 |
| BTIG Research | Neutral | Neutral | Maintain | Aug 25, 2016 |
| Canaccord Genuity | Buy | Buy | Maintain | Aug 15, 2016 |
| ISI Group | Buy | Buy | Maintain | Oct 6, 2014 |
Named analyst price targets
Upside is calculated against the persisted current price $237.32. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Wells Fargo | Analyst unavailable | $268 | $234.85 | +12.9% | Oct 19, 2026 |
| Barclays | Analyst unavailable | $246 | $230.29 | +3.7% | Oct 13, 2026 |
| Evercore ISI | James Kammert | $256 | $232.53 | +7.9% | Sep 21, 2026 |
| Jefferies | Analyst unavailable | $275 | $234.29 | +15.9% | Sep 15, 2026 |
| Scotiabank | Analyst unavailable | $251 | $238.78 | +5.8% | Sep 2, 2026 |
| Morgan Stanley | Ronald Kamdem | $251 | $236.31 | +5.8% | Sep 1, 2026 |
| Wells Fargo | John Kilichowski | $266 | $236.31 | +12.1% | Sep 1, 2026 |
| Barclays | Analyst unavailable | $259 | $237.98 | +9.1% | Aug 31, 2026 |
| KeyBanc | Analyst unavailable | $275 | $233.1 | +15.9% | Aug 4, 2026 |
| RBC Capital | Analyst unavailable | $260 | $234.83 | +9.6% | Aug 3, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $260 | $234.02 | +9.6% | Jul 31, 2026 |
| Evercore ISI | James Kammert | $260 | $236.72 | +9.6% | Jul 30, 2026 |
| Mizuho Securities | Analyst unavailable | $260 | $246.44 | +9.6% | Jul 22, 2026 |
| UBS | Michael Goldsmith | $271 | $237.19 | +14.2% | Jul 8, 2026 |
| Barclays | Analyst unavailable | $254 | $232.69 | +7.0% | Jul 7, 2026 |
| Raymond James | David Rodgers | $226 | $213.5 | -4.8% | Jun 16, 2026 |
| Mizuho Securities | Vikram Malhotra | $239 | $216.01 | +0.7% | May 22, 2026 |
| Scotiabank | Analyst unavailable | $248 | $217.16 | +4.5% | May 21, 2026 |
| Jefferies | Jonathan Petersen | $248 | $217.5 | +4.5% | May 12, 2026 |
| BMO Capital | Analyst unavailable | $245 | $216.27 | +3.2% | May 4, 2026 |
| RBC Capital | Analyst unavailable | $238 | $216.91 | +0.3% | May 4, 2026 |
| UBS | Analyst unavailable | $249 | $216.91 | +4.9% | May 4, 2026 |
| RBC Capital | Analyst unavailable | $230 | $208.56 | -3.1% | Feb 24, 2026 |
| KeyBanc | Analyst unavailable | $240 | $209.54 | +1.1% | Feb 24, 2026 |
| Morgan Stanley | Analyst unavailable | $215 | $212.63 | -9.4% | Feb 18, 2026 |
| UBS | Analyst unavailable | $240 | $208.75 | +1.1% | Feb 12, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $230 | $208.54 | -3.1% | Feb 12, 2026 |
| UBS | Michael Goldsmith | $228 | $185.65 | -3.9% | Jan 8, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $204 | $183 | -14.0% | Jan 5, 2026 |
| Jefferies | Analyst unavailable | $231 | $190.46 | -2.7% | Dec 15, 2025 |
| UBS | Analyst unavailable | $232 | $201.92 | -2.2% | Dec 4, 2025 |
| Wells Fargo | Analyst unavailable | $218 | $204.09 | -8.1% | Nov 25, 2025 |
| Morgan Stanley | Analyst unavailable | $200 | $196.9 | -15.7% | Nov 20, 2025 |
| Evercore ISI | Steve Sakwa | $208 | $184.35 | -12.4% | Nov 5, 2025 |
| Cantor Fitzgerald | Analyst unavailable | $200 | $179.48 | -15.7% | Oct 31, 2025 |
| Loop Capital Markets | Viacheslav Obodnikov | $196 | $177.2 | -17.4% | Oct 29, 2025 |
| UBS | Michael Goldsmith | $203 | $179.7 | -14.5% | Oct 29, 2025 |
| Wells Fargo | Analyst unavailable | $200 | $177.71 | -15.7% | Oct 21, 2025 |
| National Bank | Analyst unavailable | $246 | $173.29 | +3.7% | Oct 17, 2025 |
| Scotiabank | Analyst unavailable | $182 | $175.04 | -23.3% | Oct 6, 2025 |
| Cantor Fitzgerald | Analyst unavailable | $195 | $178.14 | -17.8% | Oct 1, 2025 |
| UBS | Michael Goldsmith | $195 | $166.53 | -17.8% | Sep 19, 2025 |
| Evercore ISI | Analyst unavailable | $183 | $169.13 | -22.9% | Sep 15, 2025 |
| Scotiabank | Nicholas Yulico | $181 | $166.83 | -23.7% | Aug 28, 2025 |
| RBC Capital | Analyst unavailable | $168 | $153.51 | -29.2% | Feb 28, 2025 |
| Scotiabank | Nicholas Yulico | $133 | $126.51 | -44.0% | Sep 23, 2024 |
| RBC Capital | Michael Carroll | $114 | $115.73 | -52.0% | Aug 9, 2024 |
| Evercore ISI | Steve Sakwa | $105 | $112.24 | -55.8% | Jul 30, 2024 |
| Griffin | Michael Griffin | $120 | $103.53 | -49.4% | Jun 10, 2024 |
| Scotiabank | Nicholas Yulico | $108 | $101.46 | -54.5% | May 16, 2024 |
| RBC Capital | Michael Carroll | $101 | $97.44 | -57.4% | May 7, 2024 |
| Wedbush | Richard Anderson | $100 | $96.08 | -57.9% | May 3, 2024 |
| Wedbush | Richard Anderson | $90 | $86.16 | -62.1% | Nov 7, 2023 |
| Griffin | Michael Griffin | $81 | $70.56 | -65.9% | Apr 5, 2023 |
| Raymond James | Analyst unavailable | $82 | $69.78 | -65.4% | Jan 9, 2023 |
| Raymond James | Analyst unavailable | $72 | $65.7 | -69.7% | Dec 9, 2022 |
| Morgan Stanley | Analyst unavailable | $74 | $70.27 | -68.8% | Nov 15, 2022 |
| KeyBanc | Jordan Sadler | $80 | $58.6 | -66.3% | Oct 10, 2022 |
| SMBC Nikko | Richard Anderson | $84 | $83.31 | -64.6% | Aug 11, 2022 |
| Scotiabank | Nicholas Yulico | $110 | $96.98 | -53.6% | Apr 10, 2022 |
| Barclays | Steve Valiquette | $95 | $90.97 | -60.0% | Mar 14, 2022 |
| BMO Capital | Juan C. Sanabria | $105 | $83.28 | -55.8% | Feb 16, 2022 |
| Credit Suisse | Omotayo Okusanya | $92 | $84.05 | -61.2% | Feb 1, 2022 |
| Robert W. Baird | Dave Rodgers | $95 | $83.24 | -60.0% | Jan 26, 2022 |
| Deutsche Bank | Derek Johnston | $103 | $84.94 | -56.6% | Jan 3, 2022 |
| J.P. Morgan | Michael Mueller | $90 | $79.75 | -62.1% | Dec 20, 2021 |
| Stifel Nicolaus | Steve Manaker | $83 | $82.54 | -65.0% | Aug 12, 2021 |
| Wells Fargo | Todd Stender | $89 | $85.88 | -62.5% | Jul 23, 2021 |
| Jefferies | Jonathan Petersen | $78 | $86.7 | -67.1% | Jul 15, 2021 |
Track every rating change on WELL the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationWelltower Inc. (NYSE:WELL), an S&P 500 company based in Toledo, Ohio, is a leader in reshaping healthcare infrastructure. This Real Estate Investment Trust (REIT) strategically collaborates with premier operators in seniors housing, post-acute care, and health systems. Their core mission is to finance the vital property assets required to expand innovative care delivery models, thereby enhancing overall public wellness and healthcare experiences. Welltower's portfolio encompasses a variety of properties, including seniors housing, post-acute communities, and outpatient medical facilities, all situated primarily within key, rapidly growing markets across the United States, Canada, and the United Kingdom.
Historical context
All WELL earningsReal Estate peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| RITM-PD Rithm Capital Corp. | FY2026 Q3 · Calendar Q4 2026 | +10.2% | — | Rithm highlights servicing, inflows and technology-led efficiency |
| CBRE CBRE Group, Inc. | FY2026 Q3 · Calendar Q4 2026 | +4.6% | -2.5% | CBRE: Infrastructure Growth Offsets Capital-Markets Headwinds |
Latest beats and misses
Who reports nextBeat on EPS
- FCNCAFY2026 Q3 · October 23, 2026+19.9% EPS+8.2% move
- FCNCNFY2026 Q3 · October 23, 2026+19.9% EPS+0.2% move
- FCNCOFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- FCNCPFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
- SLBFY2026 Q3 · October 23, 2026+3.7% EPS+7.1% move
Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
Get the WELL recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-01-28T00:00:20.742579+00:00
- Polygon adjusted daily market bars · 2026-10-25T05:00:42.306530+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-25T05:00:42.303769+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-25. For educational purposes only; not investment advice.