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Earnings · REIT · Seniors Housing · Welltower
Welltower (WELL) reported a robust first quarter of 2026, with FFO per share increasing 23% and total revenue up 38% year-over-year, driven by strong organic growth and $3.2 billion in Q1 investments, leading the company to raise its full-year FFO per share guidance by $0.11 to $6.28.
The company achieved 16.4% total portfolio same-store net operating income (NOI) growth, the highest in its history, largely from its Seniors Housing Operating (SHOP) portfolio, which now comprises 74% of same-store NOI and saw 22% growth. Welltower completed $3.2 billion in investments during Q1 2026 and has closed or is under contract for an additional $7.3 billion, bringing total investment volume for the year to $10.5 billion.
Simultaneously, Welltower executed nearly $3 billion in dispositions in Q1, totaling $11 billion since early 2025, strategically rotating capital into higher-growth assets. CEO Shankh Mitra highlighted the company's strong balance sheet, ability to capitalize on capital market volatility, and the expanded role of technology and data through the Welltower Business System to drive future growth and margin expansion.
Co-President and CIO Nikhil Chaudhri also confirmed the full commitment of the $2.5 billion U.S. Seniors Housing Equity Fund.