Welltower Reports Q3 2026 Results with Strong Portfolio Growth and Updated Guidance

Welltower Inc. announced its financial results for the third quarter ended September 30, 2026, reporting net income of $415 million and net income attributable to common stockholders of $0.54 per diluted share. The company also reported quarterly normalized funds from operations (FFO) attributable to common stockholders of $1.67 per diluted share, representing a 24.6% increase over the prior year.

Operating performance for the portfolio showed significant year-over-year growth, with total portfolio same store net operating income (SSNOI) increasing by 15.8%. This growth was primarily driven by the Seniors Housing Operating (SHO) portfolio, which saw SSNOI rise by 21.0%. Within the SHO segment, organic same store revenue grew by 9.1% during the quarter, attributed to 320 basis points of average occupancy growth and a 5.3% increase in Revenue Per Occupied Room (RevPOR).

In terms of capital activity, Welltower completed $4.1 billion of pro rata gross investments in the first nine months of 2026, with an additional $7.7 billion closed or under contract to close subsequent to the quarter end. The company also completed $484 million of pro rata dispositions and loan repayments during the third quarter. As of September 30, 2026, the company reported a Net Debt to Adjusted EBITDA ratio of 3.02x and held approximately $9.5 billion in available liquidity.

Welltower announced an updated outlook for 2026, raising its guidance for net income attributable to common stockholders to a range of $3.31 to $3.37 per diluted share. The company also increased its full-year normalized FFO guidance to a range of $6.47 to $6.53 per diluted share. The company expects average blended SSNOI growth of 15.0% to 16.25% for the remainder of the year, with specific growth targets of 20.25% to 21.75% for the SHO portfolio.

On October 26, 2026, the Board of Directors declared a cash dividend of $0.85 per share for the quarter ended September 30, 2026. This dividend is scheduled to be paid on November 19, 2026, to stockholders of record as of November 10, 2026.