Welltower's Q4 earnings per share fell short of expectations, but revenue exceeded expectations

LootboxPhobia · 2026-02-13T22:59:20+00:00

Welltower Inc.'s Q4 earnings report shows that despite revenue reaching $3.18 billion, surpassing expectations, earnings per share were only $0.14, well below analysts' forecast of $0.56. The company continues to make strategic investments and expects future FFO per share to be between $6.09 and $6.25.

LootboxPhobia

2026-02-13 22:59:20

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Toledo - Welltower Inc. (NYSE: WELL), a healthcare real estate investment trust, announced its Q4 earnings, showing strong revenue growth but earnings per share (EPS) falling short of analyst expectations as the company continues its strategic portfolio transformation.

The company reported a diluted EPS of $0.14 attributable to common shareholders for the quarter, significantly below the analyst consensus of $0.56. However, revenue reached $3.18 billion, surpassing the consensus estimate of $2.85 billion. Following the announcement, the stock price remained unchanged.

Welltower reported a normalized funds from operations (FFO) of $1.45 per share for the quarter, up 28.3% year-over-year. The company’s total investment portfolio’s same-store net operating income (SSNOI) increased by 15.0% year-over-year, with the senior housing operating portfolio growing by 20.4%.

Welltower CEO Shankh Mitra stated, “Our Q4 performance demonstrates the continued strong performance of our senior housing platform, with same-store revenue increasing by 9.6%, driven by a 400 basis point improvement in occupancy and a 4.7% increase in revenue per occupied unit.”

In this quarter, Welltower completed approximately $13.9 billion in pro-rata total investments, including the previously announced acquisition in the UK. The company also completed $7.5 billion in pro-rata asset dispositions and loan repayments, exceeding previous expectations.

Looking ahead to 2026, Welltower expects normalized FFO per share attributable to common shareholders to be between $6.09 and $6.25. The company projects an average combined same-store NOI growth of 11.25% to 15.75%, with the senior housing operating segment expected to grow by 15.0% to 21.0%.

As of December 31, 2025, the company maintained a strong balance sheet, with net debt to adjusted EBITDA ratio of 3.03x and available liquidity of approximately $10.2 billion.

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