Analyst Consensus ?
ConsensusBuy34 ratings
Bullish2470.6%
Neutral1029.4%
Bearish00.0%
Welltower Inc. · WELL · FY2026 Q2 · Calendar Q3 2026
Welltower raises FFO outlook as senior-housing demand stays strong
The supplied analysis supports a constructive operating thesis: resilient senior-housing demand, pricing power, occupancy and operating-system gains coincided with 25% year-over-year per-share FFO growth and higher full-year guidance. The main test is whether Welltower can sustain those gains while deploying capital at scale and managing labor, financing and execution risks.
Reported After market closeNYSEReal Estate
$165.69B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.61
Consensus $0.62
EPS surprise
-1.1%
Reported versus consensus
Reported revenue
$3.54B
Consensus $3.40B
Revenue surprise
+4.2%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-1.9%
Event window
SPY move
+0.2%
Same window
Abnormal move
-2.2%
Stock minus SPY
Volume
1.6×
Versus trailing sessions
Subsequent drift
-1.0%
Up to 20 sessions
WELLSPY benchmark
Ask FN2 about WELL FY2026 Q2
Transcript, numbers and history already loaded
Why did WELL fall 1.9% after missing EPS estimates in FY2026 Q2?What changed in WELL's guidance and outlook in FY2026 Q2?Give me the bull and bear case for WELL after FY2026 Q2 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 analysis, management reported stronger Q2 momentum, raised full-year FFO guidance to $6.40, increased the dividend 15% to $0.85 per share, and emphasized a larger investment program and broader Welltower Business System rollout.
Guidance delta
Management raised full-year FFO guidance to $6.40, versus $6.28 in the prior-quarter analysis.
Key takeaways
- Per-share FFO grew 25% year over year, according to the supplied transcript analysis.
- Senior-housing operating assets represented about 70% of NOI and were linked to occupancy, pricing power and margin expansion.
- Management highlighted $15.5 billion of investment commitments, continued off-market opportunities and Welltower Business System rollout.
Management priorities
- Continue deploying capital into senior-housing operating assets and maintain an off-market deal pipeline.
- Scale the Welltower Business System across the portfolio over the next three years.
- Expand technology capabilities and continue developing senior-housing equity and debt funds.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$229.87Current
$80Low
$185.68Average
$275High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 24, 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 |
|---|---|---|---|---|
| JP Morgan | Neutral | Overweight | Downgrade | Dec 18, 2025 |
| Evercore ISI Group | Outperform | In Line | Upgrade | Nov 5, 2025 |
| Wells Fargo | Overweight | Equal Weight | Upgrade | Apr 8, 2025 |
| RBC Capital Mkts | Outperform | Sector Perform | Upgrade | Feb 28, 2025 |
| Wedbush | Outperform | Neutral | Upgrade | Feb 14, 2025 |
| Jefferies | Buy | Hold | Upgrade | Jan 2, 2025 |
| Scotiabank | Sector Outperform | Sector Outperform | Maintain | Sep 23, 2024 |
| Deutsche Bank | Buy | Buy | Maintain | Aug 21, 2024 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Aug 9, 2024 |
| Morgan Stanley | Overweight | Overweight | Maintain | Jul 11, 2024 |
| Keybanc | Overweight | Overweight | Maintain | Jul 2, 2024 |
| Mizuho | Buy | Buy | Maintain | May 8, 2024 |
| Raymond James | Strong Buy | Outperform | Upgrade | Nov 9, 2023 |
| Baird | Neutral | Neutral | Maintain | Sep 14, 2023 |
| Barclays | Overweight | Overweight | Maintain | Aug 2, 2023 |
| Citigroup | Buy | Buy | Maintain | Jun 27, 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 |
| UBS | Neutral | Neutral | Maintain | Oct 2, 2017 |
| 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 $229.87. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Evercore ISI | James Kammert | $256 | $232.53 | +11.4% | Sep 21, 2026 |
| Jefferies | Analyst unavailable | $275 | $234.29 | +19.6% | Sep 15, 2026 |
| Scotiabank | Analyst unavailable | $251 | $238.78 | +9.2% | Sep 2, 2026 |
| Morgan Stanley | Ronald Kamdem | $251 | $236.31 | +9.2% | Sep 1, 2026 |
| Wells Fargo | John Kilichowski | $266 | $236.31 | +15.7% | Sep 1, 2026 |
| Barclays | Analyst unavailable | $259 | $237.98 | +12.7% | Aug 31, 2026 |
| KeyBanc | Analyst unavailable | $275 | $233.1 | +19.6% | Aug 4, 2026 |
| RBC Capital | Analyst unavailable | $260 | $234.83 | +13.1% | Aug 3, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $260 | $234.02 | +13.1% | Jul 31, 2026 |
| Evercore ISI | James Kammert | $260 | $236.72 | +13.1% | Jul 30, 2026 |
| Mizuho Securities | Analyst unavailable | $260 | $246.44 | +13.1% | Jul 22, 2026 |
| UBS | Michael Goldsmith | $271 | $237.19 | +17.9% | Jul 8, 2026 |
| Barclays | Analyst unavailable | $254 | $232.69 | +10.5% | Jul 7, 2026 |
| Raymond James | David Rodgers | $226 | $213.5 | -1.7% | Jun 16, 2026 |
| Mizuho Securities | Vikram Malhotra | $239 | $216.01 | +4.0% | May 22, 2026 |
| Scotiabank | Analyst unavailable | $248 | $217.16 | +7.9% | May 21, 2026 |
| Jefferies | Jonathan Petersen | $248 | $217.5 | +7.9% | May 12, 2026 |
| BMO Capital | Analyst unavailable | $245 | $216.27 | +6.6% | May 4, 2026 |
| RBC Capital | Analyst unavailable | $238 | $216.91 | +3.5% | May 4, 2026 |
| UBS | Analyst unavailable | $249 | $216.91 | +8.3% | May 4, 2026 |
| RBC Capital | Analyst unavailable | $230 | $208.56 | +0.1% | Feb 24, 2026 |
| KeyBanc | Analyst unavailable | $240 | $209.54 | +4.4% | Feb 24, 2026 |
| Morgan Stanley | Analyst unavailable | $215 | $212.63 | -6.5% | Feb 18, 2026 |
| UBS | Analyst unavailable | $240 | $208.75 | +4.4% | Feb 12, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $230 | $208.54 | +0.1% | Feb 12, 2026 |
| UBS | Michael Goldsmith | $228 | $185.65 | -0.8% | Jan 8, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $204 | $183 | -11.3% | Jan 5, 2026 |
| Jefferies | Analyst unavailable | $231 | $190.46 | +0.5% | Dec 15, 2025 |
| UBS | Analyst unavailable | $232 | $201.92 | +0.9% | Dec 4, 2025 |
| Wells Fargo | Analyst unavailable | $218 | $204.09 | -5.2% | Nov 25, 2025 |
| Morgan Stanley | Analyst unavailable | $200 | $196.9 | -13.0% | Nov 20, 2025 |
| Evercore ISI | Steve Sakwa | $208 | $184.35 | -9.5% | Nov 5, 2025 |
| Cantor Fitzgerald | Analyst unavailable | $200 | $179.48 | -13.0% | Oct 31, 2025 |
| Loop Capital Markets | Viacheslav Obodnikov | $196 | $177.2 | -14.7% | Oct 29, 2025 |
| UBS | Michael Goldsmith | $203 | $179.7 | -11.7% | Oct 29, 2025 |
| Wells Fargo | Analyst unavailable | $200 | $177.71 | -13.0% | Oct 21, 2025 |
| National Bank | Analyst unavailable | $246 | $173.29 | +7.0% | Oct 17, 2025 |
| Scotiabank | Analyst unavailable | $182 | $175.04 | -20.8% | Oct 6, 2025 |
| Cantor Fitzgerald | Analyst unavailable | $195 | $178.14 | -15.2% | Oct 1, 2025 |
| UBS | Michael Goldsmith | $195 | $166.53 | -15.2% | Sep 19, 2025 |
| Evercore ISI | Analyst unavailable | $183 | $169.13 | -20.4% | Sep 15, 2025 |
| Scotiabank | Nicholas Yulico | $181 | $166.83 | -21.3% | Aug 28, 2025 |
| RBC Capital | Analyst unavailable | $168 | $153.51 | -26.9% | Feb 28, 2025 |
| Scotiabank | Nicholas Yulico | $133 | $126.51 | -42.1% | Sep 23, 2024 |
| RBC Capital | Michael Carroll | $114 | $115.73 | -50.4% | Aug 9, 2024 |
| Evercore ISI | Steve Sakwa | $105 | $112.24 | -54.3% | Jul 30, 2024 |
| Griffin | Michael Griffin | $120 | $103.53 | -47.8% | Jun 10, 2024 |
| Scotiabank | Nicholas Yulico | $108 | $101.46 | -53.0% | May 16, 2024 |
| RBC Capital | Michael Carroll | $101 | $97.44 | -56.1% | May 7, 2024 |
| Wedbush | Richard Anderson | $100 | $96.08 | -56.5% | May 3, 2024 |
| Wedbush | Richard Anderson | $90 | $86.16 | -60.8% | Nov 7, 2023 |
| Griffin | Michael Griffin | $81 | $70.56 | -64.8% | Apr 5, 2023 |
| Raymond James | Analyst unavailable | $82 | $69.78 | -64.3% | Jan 9, 2023 |
| Raymond James | Analyst unavailable | $72 | $65.7 | -68.7% | Dec 9, 2022 |
| Morgan Stanley | Analyst unavailable | $74 | $70.27 | -67.8% | Nov 15, 2022 |
| KeyBanc | Jordan Sadler | $80 | $58.6 | -65.2% | Oct 10, 2022 |
| SMBC Nikko | Richard Anderson | $84 | $83.31 | -63.5% | Aug 11, 2022 |
| Scotiabank | Nicholas Yulico | $110 | $96.98 | -52.1% | Apr 10, 2022 |
| Barclays | Steve Valiquette | $95 | $90.97 | -58.7% | Mar 14, 2022 |
| BMO Capital | Juan C. Sanabria | $105 | $83.28 | -54.3% | Feb 16, 2022 |
| Credit Suisse | Omotayo Okusanya | $92 | $84.05 | -60.0% | Feb 1, 2022 |
| Robert W. Baird | Dave Rodgers | $95 | $83.24 | -58.7% | Jan 26, 2022 |
| Deutsche Bank | Derek Johnston | $103 | $84.94 | -55.2% | Jan 3, 2022 |
| J.P. Morgan | Michael Mueller | $90 | $79.75 | -60.8% | Dec 20, 2021 |
| Stifel Nicolaus | Steve Manaker | $83 | $82.54 | -63.9% | Aug 12, 2021 |
| Wells Fargo | Todd Stender | $89 | $85.88 | -61.3% | Jul 23, 2021 |
| Jefferies | Jonathan Petersen | $78 | $86.7 | -66.1% | 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 earningsLatest beats and misses
Who reports nextBeat on EPS
- AZOFY2026 Q4 · September 22, 2026+3.6% EPS+3.3% move
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% 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 · 2026-07-28T15:05:36.643792+00:00
- FN2 earnings calendar · 2026-09-01T01:23:15.986970+00:00
- Polygon adjusted daily market bars · 2026-09-24T02:50:52.046634+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-24T02:50:52.043546+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 2026-09-24. For educational purposes only; not investment advice.