Welltower (WELL)
Market Price (12/27/2025): $187.87 | Market Cap: $126.3 BilSector: Real Estate | Industry: Health Care REITs
Welltower (WELL)
Market Price (12/27/2025): $187.87Market Cap: $126.3 BilSector: Real EstateIndustry: Health Care REITs
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 33% | Expensive valuation multiplesP/SPrice/Sales ratio is 13x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 84x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 45x, P/EPrice/Earnings or Price/(Net Income) is 132x |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 29%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 28%, CFO LTM is 2.8 Bil, FCF LTM is 2.7 Bil | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.4% |
| Low stock price volatilityVol 12M is 22% | Key risksWELL key risks include [1] dependence on the financial health of its concentrated tenant and operator base, Show more. |
| Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease, Smart Buildings & Proptech, and Sustainable & Green Buildings. Themes include Geriatric Care, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 33% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 29%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 28%, CFO LTM is 2.8 Bil, FCF LTM is 2.7 Bil |
| Low stock price volatilityVol 12M is 22% |
| Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease, Smart Buildings & Proptech, and Sustainable & Green Buildings. Themes include Geriatric Care, Show more. |
| Expensive valuation multiplesP/SPrice/Sales ratio is 13x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 84x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 45x, P/EPrice/Earnings or Price/(Net Income) is 132x |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.4% |
| Key risksWELL key risks include [1] dependence on the financial health of its concentrated tenant and operator base, Show more. |
Why The Stock Moved
Qualitative Assessment
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Here are five key points explaining Welltower's stock movement from August 31, 2025, to December 27, 2025:
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<b>1. Welltower reported a significant beat in its Third Quarter 2025 earnings, coupled with increased full-year guidance.</b> The company's non-GAAP earnings per share of $1.34 considerably surpassed the consensus estimate of $0.53, an outperformance of over 150%. Additionally, Welltower raised its full-year 2025 normalized Funds from Operations (FFO) guidance to a range of $5.24 to $5.30 per diluted share, up from a previous range of $5.06 to $5.14 per diluted share, signaling strong operational performance and an optimistic outlook.
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<b>2. The company announced a transformative strategic portfolio shift focusing on seniors housing.</b> As of October 27, 2025, Welltower revealed $23 billion in transactions, including $14 billion in acquisitions of seniors housing communities across the U.S. and U.K. This strategic pivot was complemented by $9 billion in dispositions, notably the sale of an outpatient medical portfolio valued at approximately $7.2 billion, with the first tranche of $2 billion completed in October 2025.
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<b>3. Welltower launched "Welltower 3.0" and enhanced executive alignment.</b> This new era emphasizes accelerating operational and technology transformation within the seniors housing industry. Simultaneously, the company introduced new executive compensation structures designed to promote long-term management continuity and further align management's interests with those of shareholders.
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<b>4. The company demonstrated robust liquidity and a strong balance sheet.</b> As of September 30, 2025, Welltower reported approximately $11.9 billion of available liquidity, which included $6.9 billion in cash and restricted cash, and a Net Debt to Adjusted EBITDA ratio of 2.36x. This strong financial position provides significant capacity for ongoing strategic investments and operational flexibility.
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<b>5. Analyst sentiment remained positive, supported by significant institutional investment.</b> During the period, analysts maintained a "Moderate Buy" or "Buy" consensus rating for Welltower, with average price targets in the $204.80 to $208.90 range as of December 2025, with some firms raising their targets. Notably, institutional investors like Vontobel Holding Ltd. increased its stake by 20.5% (worth about $5.96 million) and Brookstone Capital Management increased its stake by 487.2% (worth about $8.08 million) during the third quarter of 2025, reflecting continued confidence in the company's prospects.
Show moreStock Movement Drivers
Fundamental Drivers
The 7.8% change in WELL stock from 9/26/2025 to 12/26/2025 was primarily driven by a 29.9% change in the company's P/E Multiple.| 9262025 | 12262025 | Change | |
|---|---|---|---|
| Stock Price ($) | 174.22 | 187.86 | 7.83% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 9135.02 | 9752.02 | 6.75% |
| Net Income Margin (%) | 12.37% | 9.85% | -20.36% |
| P/E Multiple | 101.26 | 131.53 | 29.89% |
| Shares Outstanding (Mil) | 656.59 | 672.41 | -2.41% |
| Cumulative Contribution | 7.77% |
Market Drivers
9/26/2025 to 12/26/2025| Return | Correlation | |
|---|---|---|
| WELL | 7.8% | |
| Market (SPY) | 4.3% | 10.6% |
| Sector (XLRE) | -3.2% | 55.1% |
Fundamental Drivers
The 24.5% change in WELL stock from 6/27/2025 to 12/26/2025 was primarily driven by a 46.7% change in the company's P/E Multiple.| 6272025 | 12262025 | Change | |
|---|---|---|---|
| Stock Price ($) | 150.87 | 187.86 | 24.52% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 8411.61 | 9752.02 | 15.94% |
| Net Income Margin (%) | 12.87% | 9.85% | -23.48% |
| P/E Multiple | 89.67 | 131.53 | 46.68% |
| Shares Outstanding (Mil) | 643.39 | 672.41 | -4.51% |
| Cumulative Contribution | 24.26% |
Market Drivers
6/27/2025 to 12/26/2025| Return | Correlation | |
|---|---|---|
| WELL | 24.5% | |
| Market (SPY) | 12.6% | 0.6% |
| Sector (XLRE) | -0.7% | 49.6% |
Fundamental Drivers
The 51.2% change in WELL stock from 12/26/2024 to 12/26/2025 was primarily driven by a 58.6% change in the company's P/E Multiple.| 12262024 | 12262025 | Change | |
|---|---|---|---|
| Stock Price ($) | 124.21 | 187.86 | 51.24% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 7352.33 | 9752.02 | 32.64% |
| Net Income Margin (%) | 12.45% | 9.85% | -20.92% |
| P/E Multiple | 82.93 | 131.53 | 58.61% |
| Shares Outstanding (Mil) | 611.29 | 672.41 | -10.00% |
| Cumulative Contribution | 49.73% |
Market Drivers
12/26/2024 to 12/26/2025| Return | Correlation | |
|---|---|---|
| WELL | 51.2% | |
| Market (SPY) | 15.8% | 27.0% |
| Sector (XLRE) | 1.4% | 64.8% |
Fundamental Drivers
The 205.9% change in WELL stock from 12/27/2022 to 12/26/2025 was primarily driven by a 169.1% change in the company's Net Income Margin (%).| 12272022 | 12262025 | Change | |
|---|---|---|---|
| Stock Price ($) | 61.42 | 187.86 | 205.86% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 5562.82 | 9752.02 | 75.31% |
| Net Income Margin (%) | 3.66% | 9.85% | 169.05% |
| P/E Multiple | 139.77 | 131.53 | -5.90% |
| Shares Outstanding (Mil) | 463.37 | 672.41 | -45.11% |
| Cumulative Contribution | 143.61% |
Market Drivers
12/27/2023 to 12/26/2025| Return | Correlation | |
|---|---|---|
| WELL | 114.9% | |
| Market (SPY) | 48.0% | 26.7% |
| Sector (XLRE) | 6.6% | 62.5% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| WELL Return | -17% | 37% | -21% | 42% | 43% | 52% | 175% |
| Peers Return | 16% | 38% | -12% | 21% | 26% | 16% | 150% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 18% | 114% |
Monthly Win Rates [3] | |||||||
| WELL Win Rate | 67% | 67% | 33% | 67% | 83% | 67% | |
| Peers Win Rate | 52% | 65% | 42% | 68% | 57% | 52% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| WELL Max Drawdown | -59% | -7% | -32% | 0% | -4% | -2% | |
| Peers Max Drawdown | -34% | -5% | -26% | -7% | -9% | -23% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL. See WELL Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)
How Low Can It Go
| Event | WELL | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -41.6% | -25.4% |
| % Gain to Breakeven | 71.4% | 34.1% |
| Time to Breakeven | 576 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -63.0% | -33.9% |
| % Gain to Breakeven | 170.4% | 51.3% |
| Time to Breakeven | 722 days | 148 days |
| 2018 Correction | ||
| % Loss | -35.6% | -19.8% |
| % Gain to Breakeven | 55.3% | 24.7% |
| Time to Breakeven | 322 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -49.3% | -56.8% |
| % Gain to Breakeven | 97.3% | 131.3% |
| Time to Breakeven | 781 days | 1,480 days |
Compare to HPQ, HPE, IBM, CSCO, AAPL
In The Past
Welltower's stock fell -41.6% during the 2022 Inflation Shock from a high on 3/29/2022. A -41.6% loss requires a 71.4% gain to breakeven.
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AI Analysis | Feedback
Here are 1-3 brief analogies to describe Welltower:
- Analogy 1: Think of Welltower as a landlord similar to Simon Property Group, but instead of malls, they own and lease out senior living communities and medical office buildings.
- Analogy 2: It's like American Tower, but for healthcare infrastructure – they own and lease the buildings where people receive senior care and medical services.
- Analogy 3: McDonald's, but for healthcare facilities instead of burger restaurants – Welltower owns the prime real estate that healthcare operators lease to provide services.
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- Senior Living Communities: Provides real estate for independent living, assisted living, and memory care facilities for seniors.
- Outpatient Medical Buildings: Offers real estate for medical office buildings, urgent care centers, and ambulatory surgery centers.
- Post-Acute Care Facilities: Supplies properties for skilled nursing facilities and other post-acute care services.
- Health System Properties: Leases various medical facilities to large healthcare systems.
AI Analysis | Feedback
Welltower (symbol: WELL) is a real estate investment trust (REIT) focused on healthcare properties. As such, it primarily sells to other companies, specifically healthcare operators and providers who lease or manage properties owned by Welltower.
Welltower maintains a highly diversified portfolio, and according to its financial disclosures, no single tenant or operating partner accounts for more than 5% of its total revenues. While there are thousands of tenants across its various property types (e.g., medical office buildings, hospitals), the company frequently highlights its partnerships with key operators in its Senior Housing Operating (SHO) portfolio, which is its largest segment. These operators are considered major customers due to the strategic nature and scale of their partnerships.
Major customer companies (operating partners) include, but are not limited to, the following:
- Sunrise Senior Living (Private Company)
- Discovery Senior Living (Private Company)
- Oakmont Senior Living (Private Company)
- Kisco Senior Living (Private Company)
- StoryPoint Senior Living (Private Company)
These companies are primarily private entities that operate senior living communities under management or lease agreements with Welltower.
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Shankh Mitra Chief Executive Officer (CEO)
Shankh Mitra has served as Welltower's Chief Executive Officer and a member of the Board of Directors since October 2020. He was also Chief Investment Officer from August 2018 to January 2023. Prior to his CEO appointment, he held roles including Vice Chair – Chief Operating Officer and Chief Investment Officer, Chief Investment Officer, Senior Vice President – Head of Investments, and Senior Vice President – Finance & Investments at Welltower. Before joining Welltower in 2016, Mr. Mitra was a Portfolio Manager, Real Estate Securities at Millennium Management LLC. He also served as a Senior Analyst at Citadel Investment Group and Fidelity Investments, beginning his career at PricewaterhouseCoopers. Mr. Mitra serves on the Board of Trustees of Public Storage (NYSE: PSA).
Tim McHugh Co-President and Chief Financial Officer
Tim McHugh is Co-President and Chief Financial Officer at Welltower, overseeing the Company's Corporate Finance function and actively involved in innovation and technology transformation. He joined Welltower in 2016 as Vice President, Finance and Investments, and has since held positions including Treasurer, Senior Vice President, Chief Financial Officer, and Executive Vice President, Chief Financial Officer before assuming his current role. Prior to Welltower, Mr. McHugh worked at RREEF Management, L.L.C., the global alternative investment management business of Deutsche Bank's Asset Management division, and was an equity research analyst at Northern Trust.
John Burkart Vice Chairman and Chief Operating Officer
John Burkart is Vice Chairman and Chief Operating Officer of Welltower Inc. In this role, he has leadership responsibilities across platform-wide operations, asset and portfolio management, data analytics, research, and joint venture partnerships. Before joining Welltower in 2021, Mr. Burkart spent 25 years at Essex Property Trust (NYSE: ESS), where he most recently served as Senior Executive Vice President and Chief Operating Officer.
Matthew McQueen Chief Legal Officer and General Counsel
Matthew McQueen is Chief Legal Officer and General Counsel of Welltower Inc. He serves as the chief legal adviser for the company and oversees Enterprise Risk Management, Human Capital, Compliance, and Internal Audit. He also plays an instrumental role in supporting Welltower's transactions, debt and equity offerings, Board of Directors, and governance matters. Mr. McQueen joined Welltower in April 2015 from Sidley Austin LLP in Chicago, where he was a partner in their Corporate & Securities group for 11 years. At Sidley, he led a substantial practice focusing on mergers and acquisitions, domestic and global transactions for public and private companies, public and private securities offerings, joint ventures, and corporate governance matters. While at Sidley, Mr. McQueen represented Welltower in several transactions, including acquisitions and joint ventures.
Nikhil Chaudhri Co-President & Chief Investment Officer
Nikhil Chaudhri was appointed Co-President & Chief Investment Officer after previously serving as Executive Vice President – Chief Investment Officer. He joined Welltower as an associate nearly 10 years ago and was named Co-Head of US Investments in 2020 and CIO in 2023. Following his appointment as CIO, Mr. Chaudhri has overseen approximately $11 billion of global capital deployment. Prior to joining Welltower in 2019, Mr. Chaudhri was a Managing Partner at BFIN, a Brookfield Company (NYSE: BAM), where he focused on structured finance and M&A advisory. He led various capital market initiatives including the privatization of public and private real estate asset and resources companies, the formation of a global real estate platform, and the strategic recapitalization of several billion-dollar portfolios of real estate properties to long-term strategic capital partners.
AI Analysis | Feedback
The key risks to Welltower's business (WELL) are primarily centered on the competitive nature of its markets, the financial health of its tenants and operators, and its debt obligations.
- Competitive Landscape and Tenant/Operator Risk: Welltower operates in highly competitive senior housing and healthcare infrastructure markets, which can affect its ability to attract and retain tenants and maintain market share. Furthermore, the company faces risks associated with tenant concentration in its triple-net lease portfolio. Should its tenants or operators experience adverse liquidity or financial performance, their ability to meet contractual obligations to Welltower could be impaired, materially affecting the business. This also includes operational and legal risks inherent in properties managed under RIDEA (REIT Investment Diversification and Empowerment Act) structures.
- Substantial Debt Burden: Welltower carries a significant debt burden. While the company has reported a healthy balance sheet and ample liquidity, any breaches of its debt covenants could lead to defaults, posing a material adverse effect on its business, results of operations, and financial condition.
- Economic and Regulatory Risks: The healthcare real estate industry is susceptible to economic fluctuations and changes in healthcare policies and regulations. Economic downturns can impact tenants' ability to pay rent, and shifts in healthcare regulations can affect the profitability of healthcare properties, requiring Welltower to remain vigilant and adaptable.
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The emergence and increasing adoption of telemedicine and virtual care services represent a clear emerging threat to Welltower's portfolio of outpatient medical properties and medical office buildings. The shift in healthcare delivery, accelerated by technological advancements and the COVID-19 pandemic, allows a growing number of consultations and routine appointments to occur remotely. If a significant and sustained portion of patient visits permanently moves away from physical clinics, it could lead to reduced demand for physical medical office space, impacting occupancy rates, rent growth, and the overall valuation of these assets within Welltower's portfolio.AI Analysis | Feedback
Welltower (symbol: WELL) operates in the healthcare real estate sector, primarily focusing on seniors housing and, to a lesser extent, outpatient medical properties. The addressable market sizes for these main products or services in the regions where Welltower operates are as follows:
Seniors Housing (Rental Housing for Aging Seniors)
- United States: The U.S. senior living market size is estimated at USD 943.90 billion in 2025.
- United Kingdom: The Retirement Homes industry in the United Kingdom is projected to be £12.0 billion in 2025 (approximately USD 15.0 billion).
- Canada: The Canadian senior living industry has a market size exceeding $15 billion CAD in 2025 (approximately USD 11.0 billion).
Outpatient Medical Properties (Medical Office Buildings - MOBs)
- United States: The U.S. medical office buildings market generated a revenue of USD 14,083.8 million in 2023.
- United Kingdom: The UK medical office buildings market generated a revenue of USD 2,441.1 million in 2023.
- Canada: The Canada medical office buildings market generated a revenue of USD 1,373.4 million in 2023.
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Welltower (WELL) is expected to drive future revenue growth over the next 2-3 years through several key strategies and market tailwinds:
- Sustained Performance of the Senior Housing Operating (SHO) Portfolio: Welltower anticipates continued revenue growth from its Senior Housing Operating portfolio, driven by increasing occupancy rates and strong growth in Revenue Per Occupied Room (RevPOR). The company has consistently reported robust year-over-year same-store Net Operating Income (NOI) growth in this segment.
- Strategic Acquisitions and Expansion in Senior Housing: Welltower is actively executing a strategic shift to intensify its focus on senior housing. This involves significant capital deployment towards acquisitions of senior living communities and divestitures of other asset classes, such as outpatient medical properties, to enhance its core senior housing portfolio.
- Favorable Demographic Trends: The increasing population of individuals aged 80 and above is creating a robust and growing demand for senior housing, providing a strong demographic tailwind for Welltower's business. This demographic shift is expected to fuel sustained demand for their properties.
- Operational Efficiencies and Technology Integration via Welltower Business System (WBS): Welltower is focused on driving operational and technological transformation through its "Welltower 3.0" initiative and the Welltower Business System (WBS). These efforts are aimed at enhancing operational effectiveness, improving the experience for residents and staff, and ultimately expanding margins across its senior housing portfolio.
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1. Share Repurchases
- A share repurchase program for up to $3.0 billion of common stock was approved by Welltower's Board of Directors on November 7, 2022.
- Welltower did not repurchase any shares under this program during the years ended December 31, 2024, 2023, and 2022.
- Minor quarterly stock buybacks have been reported, including $1.04 million in June 2025 and $6.12 million in March 2025.
2. Share Issuance
- In October 2024, Welltower entered into an equity distribution agreement (ATM Program) to sell up to $5.0 billion of common stock, replacing a previous $3.5 billion agreement.
- As of December 31, 2024, $3.36 billion of capacity remained under the ATM Program, with 5,408,311 shares sold subsequently.
- Issued shares significantly increased from 566,001,632 at December 31, 2023, to 637,056,054 at December 31, 2024.
4. Outbound Investments
- Welltower completed over $25 billion of investments since Q4 2020 at attractive unlevered internal rates of return (IRRs).
- In 2024, the company recorded $6 billion in acquisitions.
- In 2025, Welltower announced $23 billion in transactions, comprising $14 billion in acquisitions (primarily seniors housing communities in the U.S. and U.K.) and $7.2 billion in outpatient medical dispositions.
5. Capital Expenditures
- Welltower allocated $96 million to development funding in Q3 2025, as part of its $1.9 billion in pro rata gross investments during that period.
- Approximately $0.9 billion was dedicated to development funding in 2024.
- The company anticipates funding an additional $212 million for development projects underway as of June 30, 2025.
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to WELL. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 10312025 | MPW | Medical Properties Trust | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | -0.1% | -0.1% | -5.8% |
| 06302020 | WELL | Welltower | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 24.8% | 67.0% | -4.9% |
Research & Analysis
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Peer Comparisons for Welltower
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 133.01 |
| Mkt Cap | 205.6 |
| Rev LTM | 56,496 |
| Op Inc LTM | 7,584 |
| FCF LTM | 7,327 |
| FCF 3Y Avg | 7,366 |
| CFO LTM | 8,590 |
| CFO 3Y Avg | 8,697 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 7.4% |
| Rev Chg 3Y Avg | 3.2% |
| Rev Chg Q | 9.4% |
| QoQ Delta Rev Chg LTM | 2.1% |
| Op Mgn LTM | 16.9% |
| Op Mgn 3Y Avg | 15.7% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 22.2% |
| CFO/Rev 3Y Avg | 23.8% |
| FCF/Rev LTM | 20.1% |
| FCF/Rev 3Y Avg | 21.6% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Seniors Housing Operating | 4,764 | 4,245 | 3,213 | 3,082 | 3,457 |
| Triple-net | 887 | 932 | 891 | 801 | 973 |
| Outpatient Medical | 750 | 679 | 635 | 720 | 688 |
| Non-segment/Corporate | 237 | 5 | 3 | 3 | 4 |
| Total | 6,638 | 5,861 | 4,742 | 4,606 | 5,121 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Seniors Housing Operating | 1,108 | 98 | |||
| Triple-net | 845 | 662 | |||
| Outpatient Medical | 519 | 233 | |||
| Non-segment/Corporate | 219 | -162 | |||
| Total | 2,690 | 831 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Seniors Housing Operating | 24,622 | 22,001 | 18,852 | 16,044 | 15,785 |
| Triple-net | 8,394 | 8,619 | 9,710 | 8,547 | 9,435 |
| Outpatient Medical | 7,327 | 6,615 | 6,204 | 6,523 | 7,992 |
| Non-segment/Corporate | 3,669 | 658 | 144 | 1,369 | 170 |
| Total | 44,012 | 37,893 | 34,910 | 32,484 | 33,381 |
Price Behavior
| Market Price | $187.86 | |
| Market Cap ($ Bil) | 126.3 | |
| First Trading Date | 03/17/1992 | |
| Distance from 52W High | -9.8% | |
| 50 Days | 200 Days | |
| DMA Price | $189.81 | $164.58 |
| DMA Trend | up | up |
| Distance from DMA | -1.0% | 14.1% |
| 3M | 1YR | |
| Volatility | 20.3% | 21.8% |
| Downside Capture | -7.76 | -3.12 |
| Upside Capture | 30.03 | 38.18 |
| Correlation (SPY) | 12.1% | 27.1% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.12 | 0.22 | 0.21 | 0.02 | 0.33 | 0.49 |
| Up Beta | 0.51 | 1.23 | 1.14 | 0.63 | 0.36 | 0.42 |
| Down Beta | 0.90 | 0.01 | -0.13 | -0.27 | 0.48 | 0.49 |
| Up Capture | 109% | 63% | 67% | 33% | 29% | 39% |
| Bmk +ve Days | 12 | 25 | 38 | 73 | 141 | 426 |
| Stock +ve Days | 16 | 27 | 40 | 79 | 147 | 420 |
| Down Capture | -82% | -44% | -44% | -67% | -2% | 63% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 3 | 14 | 22 | 45 | 100 | 327 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of WELL With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| WELL | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 53.4% | 2.7% | 17.8% | 72.1% | 8.6% | 4.4% | -8.3% |
| Annualized Volatility | 21.7% | 16.8% | 19.4% | 19.3% | 15.2% | 17.0% | 35.0% |
| Sharpe Ratio | 1.88 | -0.01 | 0.72 | 2.70 | 0.34 | 0.09 | -0.08 |
| Correlation With Other Assets | 64.9% | 27.1% | 17.9% | 9.8% | 62.6% | -0.1% | |
ETFs used for asset classes: Sector ETF = XLRE, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data
| Comparison of WELL With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| WELL | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 26.6% | 5.3% | 14.7% | 18.7% | 11.5% | 4.6% | 30.8% |
| Annualized Volatility | 24.2% | 19.1% | 17.1% | 15.5% | 18.7% | 18.9% | 48.7% |
| Sharpe Ratio | 0.96 | 0.19 | 0.70 | 0.97 | 0.50 | 0.16 | 0.57 |
| Correlation With Other Assets | 66.6% | 40.9% | 15.4% | 13.2% | 67.2% | 14.6% | |
ETFs used for asset classes: Sector ETF = XLRE, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of WELL With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| WELL | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 15.3% | 6.3% | 14.8% | 15.3% | 7.0% | 5.3% | 69.2% |
| Annualized Volatility | 32.1% | 20.6% | 18.0% | 14.7% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.52 | 0.27 | 0.71 | 0.86 | 0.32 | 0.22 | 0.90 |
| Correlation With Other Assets | 70.2% | 47.3% | 8.3% | 19.9% | 74.0% | 13.1% | |
ETFs used for asset classes: Sector ETF = XLRE, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/27/2025 | -1.6% | -0.2% | 12.5% |
| 4/28/2025 | 1.6% | 1.3% | 2.2% |
| 2/11/2025 | 2.2% | 4.4% | 2.2% |
| 10/28/2024 | 5.2% | 2.9% | 7.0% |
| 7/29/2024 | 0.5% | -0.5% | 8.3% |
| 4/29/2024 | -0.5% | 1.0% | 5.7% |
| 1/22/2024 | -1.0% | -2.7% | 3.3% |
| 10/30/2023 | 2.1% | 7.7% | 8.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 13 | 15 |
| # Negative | 10 | 10 | 8 |
| Median Positive | 2.2% | 3.2% | 5.7% |
| Median Negative | -1.6% | -2.0% | -6.4% |
| Max Positive | 6.1% | 9.1% | 38.0% |
| Max Negative | -7.3% | -16.2% | -39.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 10282025 | 10-Q 9/30/2025 |
| 6302025 | 7292025 | 10-Q 6/30/2025 |
| 3312025 | 4292025 | 10-Q 3/31/2025 |
| 12312024 | 2122025 | 10-K 12/31/2024 |
| 9302024 | 10292024 | 10-Q 9/30/2024 |
| 6302024 | 7302024 | 10-Q 6/30/2024 |
| 3312024 | 4302024 | 10-Q 3/31/2024 |
| 12312023 | 2152024 | 10-K 12/31/2023 |
| 9302023 | 10312023 | 10-Q 9/30/2023 |
| 6302023 | 8012023 | 10-Q 6/30/2023 |
| 3312023 | 5032023 | 10-Q 3/31/2023 |
| 12312022 | 2212023 | 10-K 12/31/2022 |
| 9302022 | 11082022 | 10-Q 9/30/2022 |
| 6302022 | 8092022 | 10-Q 6/30/2022 |
| 3312022 | 5102022 | 10-Q 3/31/2022 |
| 12312021 | 2162022 | 10-K 12/31/2021 |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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