WELLTOWER INC. — Form 8-K
Filed October 26, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 32/100
What the filing says
For Q3 2026, Welltower reported net income of $415M ($0.54/diluted share) and normalized FFO of $1.67/share, up 24.6% YoY. The company raised full-year 2026 net income guidance to $3.31–$3.37/share (from $3.11–$3.19) and normalized FFO to $6.47–$6.53/share (from $6.36–$6.44). Year-to-date, Welltower closed or signed $21.0B in pro rata gross investments (including $13.3B completed through September 30), with seniors housing generating 21.0% same-store NOI growth. The company issued C$1.15B Canadian notes in July at 3.95% weighted-average coupon and maintained 3.02x net debt-to-adjusted EBITDA with $9.5B liquidity. Dividend held at $0.85/share (222 consecutive quarters paid).
Why this rating
Strong operational growth & raised guidance; however, $21B capex relative to ~$102B market cap (20% of size) is material but expected for REIT; leverage stable at 3.02x; no transformational event.
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