WELL

Welltower, Inc. WELL is slated to report third-quarter 2026 results on Oct. 26, after market close. The quarterly results are likely to reflect year-over-year growth in revenues and normalized funds from operations (FFO) per share. In the last reported quarter, this Toledo, OH-based healthcare real estate investment trust (REIT) witnessed a normalized FFO per share of $1.60, beating the Zacks Consensus Estimate of $1.55. Results reflected a rise in revenues on a year-over-year basis. The total portfolio same-store net operating income (SSNOI) increased year over year, driven by SSNOI growth in the senior housing operating (SHO) portfolio. Over the preceding four quarters, Welltower's normalized FFO per share beat the Zacks Consensus Estimate on all occasions, with the average beat being 2.1%. The graph below depicts this surprising history: Welltower Inc. price-eps-surprise | Welltower Inc. Quote Welltower owns a diversified healthcare real estate portfolio across the major markets in the United States, Canada and the U. K. During the third quarter, the company's SHO portfolio is likely to have continued to benefit from strong demand driven by the aging U.S. population. This demographic tailwind, coupled with muted new seniors-housing supply, is expected to have provided a favorable operating environment for this portfolio. Further, Welltower's long-term leases with its healthcare management companies or operators are anticipated to have led to stable revenue generation, boosting its top line. The Zacks Consensus Estimate for quarterly total revenues is pegged at $3.63 billion, suggesting an increase of 35% from the prior-year period's reported number. We expect WELL to have continued its investment and development activities during the to-be-reported quarter, supported by its solid balance sheet position and capital-recycling efforts. WELL's activities during the to-be-reported quarter were adequate to garner analysts' confidence. The Zacks Consensus Estimate for third-quarter normalized FFO per share has been revised 2 cents upward to $1.64 over the past three months. The figure suggests an increase of 22.4% from the year-ago reported number. However, high interest expenses are likely to have been a spoilsport for Welltower during the to-be-reported quarter. Our proven model predicts a likely surprise in terms of FFO per share for Welltower this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an FFO beat, which is the case here. Welltower currently has an Earnings ESP of +0.30% and carries a Zacks Rank of 2. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter. Here are two stocks from the broader REIT industry — BXP, Inc. BXP and Ventas VTR — that you may want to consider, as our model shows that these have the right combination of elements to report a surprise this quarter. BXP is scheduled to report third-quarter 2026 results on Oct. 27. The company has an Earnings ESP of +0.04% and a Zacks Rank #3 at present. You can see the complete list of today's Zacks #1 Rank stocks here. Ventas is slated to report third-quarter 2026 results on Oct. 27. VTR has an Earnings ESP of +0.70% and a Zacks Rank of #3 at present. Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Welltower Inc. (WELL) : Free Stock Analysis Report Ventas, Inc. (VTR) : Free Stock Analysis Report BXP, Inc. (BXP) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Welltower Inc. (WELL), headquartered in Toledo, Ohio, is a leading real estate investment trust (REIT) focused on health care infrastructure. With a market cap of $161.6 billion, the company invests in senior housing operators, post-acute providers, and health systems, helping provide the infrastructure needed to support better health care. The leading REIT is expected to announce its fiscal third-quarter earnings for 2026 after the market closes on Monday, Oct. 26. - Late Billionaire Charlie Munger Told Value Investors to 'Get Used To Making Less' Because They All Want 'A Diminished Bunch Of Opportunities' but Warren Buffett Disagrees - Why It's Time to Load Up on Qualcomm Stock - 100,000 Reasons to Buy Oracle Stock - Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. Ahead of the event, analysts expect WELL to report an FFO of $1.64 per share on a diluted basis, up 22.4% from $1.34 per share in the year-ago quarter. Notably, the company has surpassed Wall Street's FFO estimates in each of its last four quarterly reports. For the current year, analysts expect WELL to report FFO per share of $6.43, up 21.6% from $5.29 in fiscal 2025. Its FFO is expected to rise 16.3% year over year to $7.48 per share in fiscal 2027. WELL has comfortably outpaced the broader market over the past 52 weeks, with shares gaining 29.7% compared with a 16% advance for the S&P 500 Index ($SPX). The stock also delivered a strong performance against the broader real estate sector, outperforming the State Street Real Estate Select Sector SPDR ETF (XLRE), which slipped 1.3% over the same period. WELL has outpaced the broader market over the past year, driven by strong demand for senior housing, higher occupancy rates, robust property-level performance, and continued growth in its health care real estate portfolio. Analysts' consensus opinion on WELL stock is bullish, with a "Strong Buy" rating overall. Out of 22 analysts covering the stock, 15 advise a "Strong Buy" rating, three suggest a "Moderate Buy," and four give a "Hold." WELL's average analyst price target is $262.95, indicating a potential upside of 16.5% from the current levels. On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com

TOLEDO, Ohio, Sept. 23, 2026 /PRNewswire/ -- Welltower® Inc. (NYSE: WELL) today announced it will release third quarter 2026 financial results after the close of trading on the New York Stock Exchange on Monday, October 26, 2026. The Company will host a conference call and webcast on Tuesday, October 27, 2026, at 9:00 a.m. ET to discuss these results. The Company's earnings release will be available in the Investor Relations section of the Company's website. Investors and other interested parties may access the conference call in the following ways: At the Company's website: www.welltower.com. Via webcast: https://events.q4inc.com/attendee/683566832. A webcast replay will be available approximately two hours after the conclusion of the conference call and will be available for 90 days. Joining via webcast is recommended for those who will not be asking questions. By telephone: The participant toll-free dial-in number is (888) 340-5024. The international dial-in is (646) 960-0135. The conference ID number is 8230248. All phone participants are asked to dial in 15 minutes prior to the start of the call to ensure connectivity. A replay of the conference call will be available beginning at approximately 1:00 p.m. ET on October 27, 2026 and ending on November 3, 2026. The dial-in number for United States participants is (800) 770-2030. For international participants, the replay dial-in number is (609) 800-9909. The replay conference ID number is 8230248. About Welltower Welltower Inc. (NYSE: WELL), an S&P 500 company, is positioned at the center of the silver economy, focusing on rental housing for aging seniors across the United States, United Kingdom, and Canada. Our portfolio of 2,500+ seniors and wellness housing communities are positioned at the intersection of housing and hospitality, creating vibrant communities for mature renters and older adults. We believe our real estate portfolio is unmatched, located in highly attractive micromarkets with stunning built environments. Yet, we are an unusual real estate organization as we view ourselves as an operating company in a real estate wrapper, driven by highly-aligned partnerships and an unconventional culture. Through our disciplined approach to capital allocation powered by our Data Science platform and superior operating results driven by the Welltower Business System - our end-to-end operating platform - we aspire to deliver long-term compounding of per share growth for our existing investors, our North Star. More information is available at www.welltower.com. Forward-Looking Statements This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. When Welltower uses words such as "will", "expect" or similar expressions that do not relate solely to historical matters, Welltower is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause Welltower's actual results to differ materially from Welltower's expectations discussed in the forward-looking statements. Welltower undertakes no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events or otherwise, or to update the reasons why actual results could differ from those projected in any forward-looking statements. View original content to download multimedia:https://www.prnewswire.com/news-releases/welltower-announces-date-of-third-quarter-2026-earnings-release-conference-call-and-webcast-302886967.html

A month has gone by since the last earnings report for Healthpeak (DOC). Shares have lost about 3.5% in that time frame, underperforming the S&P 500. But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Healthpeak due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Healthpeak Properties reported second-quarter 2026 FFO, as adjusted, of 46 cents per share, which topped the Zacks Consensus Estimate of 44 cents by 4.6%. The figure was unchanged year over year. Total revenues of $771.6 million rose 11.1% year over year and beat the consensus mark of $726.2 million by 6.3%. The results reflected solid leasing across outpatient medical and lab properties, along with stronger senior housing operations. Combined new and renewal lease executions totaled 1.6 million square feet, while total same-store adjusted NOI increased 1.8%. Outpatient medical leasing remained the largest contributor. New lease executions totaled 327,000 square feet, while renewal leases reached 916,000 square feet. Total outpatient medical occupancy improved 20 basis points sequentially to 90.7%. Lab leasing also advanced, with 222,000 square feet of new leases and 159,000 square feet of renewal leases. Total lab occupancy increased 80 basis points sequentially to 78.5%. Healthpeak also entered into additional leases after the second quarter-end and reported a substantial pipeline under signed letters of intent. Outpatient medical same-store adjusted NOI grew 2.5% year over year to $189.1 million. Same-store cash real estate revenues increased 3.2%, while same-store cash operating expenses rose 4.4%. Same-store occupancy was 91.9%, down 50 basis points year over year. Lab same-store adjusted NOI declined 3.2% to $114.2 million as revenues fell 2.1%. Same-store occupancy was 90.3%, down 410 basis points. Senior housing was the standout, with same-store adjusted NOI rising 19.2% to $32.1 million. Occupancy in that portfolio increased 260 basis points to 88.6%. Outpatient medical adjusted NOI slipped 1.8% to $198 million, while lab adjusted NOI was nearly flat at $142.6 million. Senior housing adjusted NOI increased 25.4% to $45.9 million. Janus Living, Healthpeak’s senior housing spin-off, generated second-quarter revenues of $216 million, up 45%, while adjusted EBITDAre rose 34% to $79 million. Healthpeak owned a 73.6% equity interest in Janus Living as of June 30, 2026. Property operating expenses increased 20.6% year over year to $333.1 million. Depreciation and amortization rose to $283.4 million from $265.9 million, while general and administrative expenses increased to $22.5 million from $20.8 million. Interest expense climbed 22.9% to $92.3 million. The largest transaction was the sale of a 49% interest in an 86-property outpatient medical portfolio to Brookfield in July 2026. The portfolio was valued at $2.1 billion, and the deal generated approximately $1.025 billion in proceeds. Healthpeak retained a 51% interest and will continue to provide asset and property management services. After quarter-end, Healthpeak used the Brookfield transaction proceeds to repay $650 million of senior notes and around $375 million of commercial paper borrowings. Healthpeak generated $1.4 billion of proceeds from outpatient medical recapitalizations, seller financing loan repayments and dispositions during the second quarter and through Aug. 3, bringing year-to-date proceeds to $1.75 billion. Available liquidity totaled $4.13 billion as of June 30. Cash and cash equivalents were $1.63 billion, up from $467.5 million at the end of 2025. Net Debt to Adjusted EBITDAre improved to 4.7X from 5.4X in the preceding quarter. Management increased its 2026 FFO, as adjusted, guidance to $1.73-$1.77 per share from $1.71-$1.75. Total same-store cash adjusted NOI growth is now expected between 0% and 1.5% compared with the prior range of a 1% decline to 1% growth. In the past month, investors have witnessed a flat trend in estimates review. At this time, Healthpeak has a subpar Growth Score of D, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a score of C on the value side, putting it in the middle 20% for this investment strategy. Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in. Healthpeak has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Healthpeak belongs to the Zacks REIT and Equity Trust - Other industry. Another stock from the same industry, Welltower (WELL), has gained 0.6% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026. Welltower reported revenues of $3.54 billion in the last reported quarter, representing a year-over-year change of +39.1%. EPS of $0.61 for the same period compares with $1.28 a year ago. Welltower is expected to post earnings of $1.64 per share for the current quarter, representing a year-over-year change of +22.4%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged. Welltower has a Zacks Rank #2 (Buy) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of F. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Healthpeak Properties, Inc. (DOC) : Free Stock Analysis Report Welltower Inc. (WELL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

A month has gone by since the last earnings report for Innovative Industrial Properties (IIPR). Shares have lost about 6.9% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Innovative Industrial Properties due for a breakout? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent catalysts for Innovative Industrial Properties, Inc. before we dive into how investors and analysts have reacted as of late. Innovative Industrial reported second-quarter 2026 AFFO of $1.83 per share, up 7% year over year and beating the Zacks Consensus Estimate of $1.78 by 2.8%. Total revenues rose 0.7% to $63.31 million but missed the consensus mark of $66.47 million by 4.8%. New leases and contractual rent escalations supported the top line, while property sales, tenant defaults and lease terminations offset much of the benefit. The operating portfolio was 95.8% leased as of June 30, 2026. Rental revenues, including tenant reimbursements, were $62.89 million compared with $62.87 million a year earlier. Other revenues increased to $0.43 million from $0.03 million, leaving the overall top-line gain modest despite leasing activity. Through June, Innovative Industrial executed five leases covering 389,000 square feet, representing 5% of total portfolio square footage. At quarter-end, the portfolio comprised 108 properties across 19 states and 8.4 million rentable square feet. Weighted-average lease length was 11.9 years, while total invested capital stood at $2.4 billion. Interest and other income jumped to $10.75 million from $1.57 million a year earlier. The increase primarily reflected $8.50 million of interest and dividend income from the company’s financial investments in IQHQ, along with interest on the seller-financed note tied to the Perth, NY, property sale. Innovative Industrial fully funded its $270 million IQHQ commitment by June 30, 2026. The investment consists of a $100 million revolving credit facility carrying a 13.5% yield and $170 million of preferred equity carrying a 15% yield. The company’s annualized base rent and income from loans and securities totaled $324.69 million at quarter-end. Cannabis represented 87.6% of the mix, life sciences 12.2% and other sources 0.2%. Property expenses increased 4.8% year over year to $7.20 million, while general and administrative expenses declined 10.5% to $7.72 million. Interest expense climbed 87.8% to $8.35 million from $4.44 million. On a GAAP basis, net income attributable to common stockholders rose 61.7% to $40.67 million, or $1.36 per share. Results included an $11.85 million net gain on real estate sales, which is excluded from FFO. The quarter included a $16.70 million gain on the sale of the Perth property and a $4.90 million loss on the sale of a land parcel in San Marcos, TX. Gross proceeds from the two transactions totaled $91.77 million. Payments received from defaulted tenants PharmaCann and 4Front totaled $1.90 million in the second quarter, down from $3.47 million in the first quarter. PharmaCann surrendered its Ohio property in April, and the company immediately entered into a 58,000-square-foot full-building lease with Curaleaf at that location. For 4Front, Innovative Industrial reached tentative arrangements with prospective tenants for four assets in Illinois, Washington and Massachusetts. The arrangements remain subject to contingencies, including license-transfer approvals, and are expected to become effective after receivership proceedings conclude by year-end 2026 or early 2027. PharmaCann remained in possession of the New York and Pennsylvania properties with IIPR’s consent while working toward transfers of the existing licenses to new tenants. The company had resolved all pending litigation with PharmaCann related to its prior lease defaults. Innovative Industrial ended June with $204.7 million of cash and cash equivalents and total liquidity of $299.7 million. Net debt to total gross assets was 14.2%, while net debt to adjusted EBITDA stood at 1.7 times. During the quarter, the company completed a $402.5 million offering of 6% exchangeable senior notes due 2029 and fully repaid $291 million of 5.50% unsecured notes due 2026. It also repurchased $89.0 million of common stock, while issuing common and preferred shares through its ATM programs for net proceeds of $34.8 million and $20.9 million, respectively. In the past month, investors have witnessed a downward trend in fresh estimates. At this time, Innovative Industrial Properties has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. However, the stock was allocated a grade of B on the value side, putting it in the second quintile for value investors. Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Innovative Industrial Properties has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Innovative Industrial Properties is part of the Zacks REIT and Equity Trust - Other industry. Over the past month, Welltower (WELL), a stock from the same industry, has gained 3.8%. The company reported its results for the quarter ended June 2026 more than a month ago. Welltower reported revenues of $3.54 billion in the last reported quarter, representing a year-over-year change of +39.1%. EPS of $0.61 for the same period compares with $1.28 a year ago. For the current quarter, Welltower is expected to post earnings of $1.64 per share, indicating a change of +22.4% from the year-ago quarter. The Zacks Consensus Estimate has changed +0.6% over the last 30 days. The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Welltower. Also, the stock has a VGM Score of D. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Innovative Industrial Properties, Inc. (IIPR) : Free Stock Analysis Report Welltower Inc. (WELL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

A month has gone by since the last earnings report for Public Storage (PSA). Shares have lost about 2% in that time frame, underperforming the S&P 500. But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Public Storage due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Public Storage reported second-quarter 2026 core FFO per share of $4.17, missing the Zacks Consensus Estimate by 1.9%. Core FFO declined 2.6% from the year-ago quarter. Results reflected a decrease in same-store NOI by 2.2%. Growth from non-same-store properties and ancillary operations offset weaker same-store revenues. Average occupancy improved 20 basis points to 92.5%. Quarterly revenues rose 2.6% year over year to $1.23 billion and surpassed the consensus estimate of $1.21 billion. Same-store revenues decreased 0.6% year over year to $1.01 billion. Realized annual rental income per occupied square foot declined 0.8% to $21.89, while rental income per available square foot fell 0.6% to $20.24. Direct operating costs increased 4.3% to $227.7 million, and indirect operating costs rose 5.7% to $32.5 million. Same-store NOI fell to $746.4 million from $763.3 million. The NOI margin contracted 120 basis points to 74.2%. The non-same-store pool remained Public Storage's main operating growth engine. The portfolio included 441 acquisition, development and expansion properties totaling 39.3 million rentable square feet, representing 17% of its U.S. consolidated portfolio. Revenues from these properties increased 25.6% during the quarter, while NOI advanced 21.5%. The gains helped counter pressure within the mature same-store portfolio and supported overall self-storage revenue growth. Ancillary revenues increased 12.7% year over year to $92.9 million from $82.4 million. Ancillary operating costs rose 9% to $36.3 million, allowing the business to generate a wider contribution to consolidated operating results. Total self-storage facility revenues improved 1.9% to $1.14 billion. However, self-storage operating costs climbed 8.1% to $307.8 million, reflecting the combination of higher same-store expenses and the expansion of the non-same-store portfolio. During the quarter, Public Storage acquired 20 self-storage facilities with 1.5 million rentable square feet for $222.5 million. Including activity after quarter-end, the company had acquired or agreed to acquire 44 facilities totaling 3.2 million square feet for $454.9 million. Public Storage also opened three newly developed facilities and one expansion project during the first six months of 2026. These projects added 0.4 million rentable square feet at a cost of $57.3 million. Its development and expansion pipeline is expected to deliver 4 million square feet at an aggregate cost of $691.7 million. Public Storage ended June with $10.3 billion of total indebtedness and approximately $3.8 billion of liquidity. Net debt to EBITDA improved to 2.90X from 3.10X a year earlier, while the weighted average interest rate increased 30 basis points to 3.3%. During the quarter, the company issued $500 million of 5% senior notes due in 2035. It also established a $3 billion revolving credit facility, a $500 million delayed-draw term loan and a $1 billion commercial paper program. Subsequent to quarter-end, Public Storageissued an additional $900 million of senior notes at an effective rate of 4.855%. Public Storage raised its 2026 core FFO per share guidance to $16.75-$17.05 from $16.35-$17.00. The revised outlook includes 2 cents per share of expected accretion from financing the National Storage Affiliates Trust and Public Storage Canada transactions. The company also improved its same-store assumptions. It now expects revenue growth between negative 0.7% and positive 0.3% compared with the prior range of negative 2.2% to flat. Same-store NOI is projected to decline 0.3%-2%, narrower than the earlier expected decrease of 0.5%-3.9%. In the past month, investors have witnessed a upward trend in fresh estimates. Currently, Public Storage has a subpar Growth Score of D, however its Momentum Score is doing a bit better with a C. Charting a somewhat similar path, the stock has a grade of D on the value side, putting it in the bottom 40% for this investment strategy. Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Public Storage has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Public Storage is part of the Zacks REIT and Equity Trust - Other industry. Over the past month, Welltower (WELL), a stock from the same industry, has gained 1.7%. The company reported its results for the quarter ended June 2026 more than a month ago. Welltower reported revenues of $3.54 billion in the last reported quarter, representing a year-over-year change of +39.1%. EPS of $0.61 for the same period compares with $1.28 a year ago. Welltower is expected to post earnings of $1.64 per share for the current quarter, representing a year-over-year change of +22.4%. Over the last 30 days, the Zacks Consensus Estimate has changed +1.1%. Welltower has a Zacks Rank #2 (Buy) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of D. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Public Storage (PSA) : Free Stock Analysis Report Welltower Inc. (WELL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

A month has gone by since the last earnings report for Boston Properties (BXP). Shares have lost about 3.7% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Boston Properties due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. BXP reported second-quarter 2026 FFO of $1.78 per share, beating the Zacks Consensus Estimate of $1.71. FFO rose 4.1% from the year-ago period. Results reflected higher occupancy and same-property NOI growth, which supported the FFO beat. Total portfolio occupancy climbed 100 basis points sequentially to 88.4%. Lease revenues increased 3.2% year over year to $831.68 million and surpassed the consensus mark of $812.49 million. Total revenues increased 3.1% from the prior-year quarter to $895.7 million. BXP’s rental revenues (excluding termination income) for the office portfolio came in at $839.23 million, which rose 3.3% year over year. For the hotel & residential segment, the metric aggregated $18.58 million, indicating a 2.5% increase year over year. On a consolidated basis, BXP’s rental revenues (excluding termination income) came in at $857.82 million, up 3.3% year over year. BXP's share of same-property NOI, excluding termination income, increased 3.5% year over year to $486.81 million. On a cash basis, the metric improved marginally to $454.97 million. The office REIT executed 106 leases covering approximately 1.8 million square feet, with a weighted-average lease term of 9.9 years. The leasing volume equaled about 129% of BXP's historical 10-year second-quarter average. Notable commitments included an approximately 148,000-square-foot lease with McDermott Will & Schulte at 343 Madison Avenue. That agreement lifted the project's pre-leased level to 50%. Boston Dynamics also signed an approximately 322,000-square-foot lease at Reservoir Place in Waltham, MA. The total portfolio leased rate reached 91.3%, up 40 basis points from the first quarter. The 290-basis-point spread between leased and occupied space represented approximately 1.3 million square feet of future commencements, with about 85% expected before the end of 2026. The CBD portfolio was 90.7% occupied and 93.6% leased. About 91% of BXP's share of annualized rental obligations came from clients in these urban properties. The addition of the fully occupied 290 Binney Street property contributed to the quarterly occupancy gain, though most of the improvement came from the existing portfolio. BXP fully placed 290 Binney Street in Cambridge, MA, in service during the quarter. The 572,578-square-foot laboratory and life sciences property is fully leased to AstraZeneca. The company also began redeveloping the approximately 363,000-square-foot Reservoir Place building, which is 89% pre-leased to Boston Dynamics. Separately, BXP formed a joint venture to develop a 359-unit multifamily project in Herndon, VA, retaining a 20% ownership interest and serving as development manager. On July 28, BXP closed a $1.2 billion construction loan for 343 Madison Avenue. The facility carries a four-year initial term and a one-year extension option. Its initial rate is Term SOFR plus 2.50%, declining to Term SOFR plus 2.25% after specified leasing and construction milestones. Cash and cash equivalents were $493.95 million as of June 30, 2026, compared with $512.78 million as of March 31, 2026. The company reported an annualized BXP’s share net debt-to-EBITDA ratio of 7.94, down from 8.50 as of March 31, 2026. Management projected third-quarter FFO of $1.80-$1.82 per share. BXP raised the midpoint of its full-year 2026 FFO guidance by 5 cents to a range of $6.99-$7.05, citing better-than-projected portfolio performance. It turns out, estimates revision have trended downward during the past month. Currently, Boston Properties has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. However, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy. Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending downward for the stock, and the magnitude of this revision indicates a downward shift. Interestingly, Boston Properties has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Boston Properties belongs to the Zacks REIT and Equity Trust - Other industry. Another stock from the same industry, Welltower (WELL), has gained 0.2% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026. Welltower reported revenues of $3.54 billion in the last reported quarter, representing a year-over-year change of +39.1%. EPS of $0.61 for the same period compares with $1.28 a year ago. Welltower is expected to post earnings of $1.64 per share for the current quarter, representing a year-over-year change of +22.4%. Over the last 30 days, the Zacks Consensus Estimate has changed +1.1%. The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Welltower. Also, the stock has a VGM Score of D. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BXP, Inc. (BXP) : Free Stock Analysis Report Welltower Inc. (WELL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in Ventas, Inc.? Here are five stocks we like better. Ventas raised its 2026 outlook after strong second-quarter results, with normalized FFO reaching $0.97 per share and full-year guidance increasing to $3.85–$3.90 per share. The company also raised its 2026 investment target to $4.5 billion, primarily for senior housing. Senior housing operating portfolio performance led growth: U.S. SHOP NOI increased 18% year over year, occupancy rose 360 basis points, and same-store SHOP NOI grew 16%. Ventas maintained its 16% SHOP NOI growth target while lifting its occupancy-growth expectation to 300 basis points. Balance-sheet strength improved, with net debt to EBITDA falling to 4.7 times, the lowest level in more than a decade. Ventas plans to fund further investments through capital recycling, including approximately $700 million of dispositions and loan repayments focused on nonstrategic assets. Why Welltower's Growth Story Might Outrun Its Rich Valuation Ventas (NYSE:VTR) raised its 2026 investment and earnings outlook after reporting second-quarter growth led by its senior housing operating portfolio, or SHOP, as occupancy gains and rent growth lifted property-level results. Chairman and Chief Executive Officer Debra A. Cafaro said the company generated 10% total-company same-property net operating income, or NOI, growth in the quarter. U.S. SHOP NOI rose 18% year over year, accompanied by 360 basis points of occupancy growth, she said. Normalized funds from operations, or FFO, increased 9% from a year earlier to $0.97 per share. → Microsoft Just Flipped the AI Spending Narrative Overnight 6 largest healthcare REITs to buy and how to invest The company increased its full-year normalized FFO guidance to a range of $3.85 to $3.90 per share, representing projected growth of 8% to 10%. Ventas also lifted its expected 2026 investment volume to $4.5 billion from $3 billion, primarily focused on senior housing. Executive Vice President, Senior Housing and Chief Investment Officer Justin Hutchens said same-store SHOP NOI increased 16% year over year during the second quarter, with the U.S. portfolio contributing 18% growth. Same-store average occupancy rose 300 basis points across the portfolio and 360 basis points in the U.S. → 2 Unique Space ETFs That Could Upend the Industry Analysts See Strong Upside Trade for Undervalued REITs Within NIC’s top 99 markets, Ventas’ same-store communities outperformed industry occupancy averages by about 150 basis points, according to Hutchens. Revenue per occupied room, or RevPOR, increased 5%, reflecting both in-place rent increases and higher move-in rents. Same-store revenue grew nearly 9%, while operating expenses increased 5%. That combination expanded NOI margins by 210 basis points to 31%, while incremental margin flow-through reached 55%. → MarketBeat Week in Review – 07/27- 07/31 Hutchens said the company’s U.S. senior housing portfolio is 87% occupied, while its non-same-store portfolio is 83% occupied. The non-same-store group represents about 25% of SHOP NOI and includes acquisitions, transitions and redevelopment projects. Ventas is maintaining its same-store SHOP NOI growth outlook of 16% at the midpoint. The company raised its full-year occupancy-growth target to 300 basis points from 270 basis points after a strong start to the year, and management said the May-through-September key selling season was tracking in line with its expectations. Hutchens highlighted performance at more highly occupied communities as evidence of further opportunity. The approximately half of U.S. same-store communities that were at least 90% occupied posted 25% NOI growth and 6% RevPOR growth. About 10% of the company’s SHOP communities were at or near full occupancy, and those U.S. properties were producing about 7% RevPOR growth and roughly 20% NOI growth, he said. Ventas completed more than $3 billion of senior housing-focused investments across 27 transactions year to date, Hutchens said. The investments were underwritten to double-digit to mid-teens unlevered internal rates of return, had an average expected first-year yield of 6.6%, and were acquired at an average price of $358,000 per unit. The company expects to complete approximately another $1 billion of investments under contract, with that group expected to produce yields and returns similar to its completed investments. About two-thirds of that pending activity is value-add product with a higher growth profile, Hutchens said. More than 90% of year-to-date investments were relationship-driven, including off-market transactions and transactions involving repeat sellers or existing operating partners. Hutchens said Ventas’ underwriting and data capabilities have helped the company close transactions in about two months from start to finish. Cafaro said Ventas has completed more than $8 billion of investments since the beginning of 2024, adding more than 23,000 units across 174 communities to its SHOP portfolio. The company expects SHOP to represent 60% of its $60 billion enterprise by the end of 2026. Management said demographic demand and limited new supply continue to support its senior housing strategy. Cafaro said the leading edge of the nearly 70 million baby boomers began turning 80 in 2026, while new senior housing construction starts remain at record lows. On development, Hutchens said Ventas is primarily focused on acquiring in-place cash flows rather than developing new properties. He said current rents would generally need to be at least 25% higher for projects to generate the roughly 8% development yield that developers may seek, though luxury projects in select markets could be exceptions. Chief Financial Officer Robert Probst said net debt to EBITDA improved to 4.7 times at the end of the second quarter, the company’s lowest leverage level in more than a decade. That was a 90-basis-point improvement from a year earlier and a 30-basis-point sequential improvement. Ventas completed $3.4 billion of investments year to date and raised $4.2 billion of equity, including $1.6 billion that remained unsettled at quarter-end. Liquidity totaled $4.9 billion. The updated normalized FFO guidance midpoint of $3.88 per share is $0.02 above the prior midpoint. Probst said higher senior housing investment activity, net of additional capital recycling, contributed $0.03 per share to the improvement. That was partly offset by $0.01 per share from higher interest rates and a higher share price. The company increased its disposition and loan repayment assumptions to $700 million, with sales expected to focus on non-SHOP and non-strategic assets. Probst characterized the disposition activity as portfolio “hygiene” intended to improve the company’s growth rate. Management said approximately $100 million of anticipated loan repayments carry an 11% yield. Ventas’ outpatient medical and research portfolio, known as OMAR, generated 5% same-store cash NOI growth in the second quarter. After adjusting for cash fee income, outpatient medical same-store cash NOI growth was 3%, supported by a 50-basis-point occupancy improvement and 88% tenant retention. The triple-net portfolio generated 3% same-store cash NOI growth, and Probst said the company expects the portfolio’s year-over-year NOI growth rate to increase in the second half. In the research portfolio, Hutchens said several tenants did not renew leases, producing an expected year-over-year NOI impact of about $900,000. He said the second-quarter run rate in research is expected to reflect the remainder of the year. Ventas, Inc (NYSE: VTR) is a real estate investment trust (REIT) that specializes in healthcare-related real estate. The company acquires, owns and manages a diversified portfolio of properties serving the healthcare continuum, including senior housing communities, skilled nursing facilities, medical office buildings, life science and research centers, and other properties leased to healthcare providers and operators. Ventas generates revenue through long-term leases, property management and selective development activities focused on meeting the real estate needs of the healthcare sector. Ventas' business model combines property ownership with active asset management and capital markets activity. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Ventas Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Track your investments for FREE with Simply Wall St, the portfolio command center trusted by over 7 million individual investors worldwide. Welltower (WELL) has drawn fresh attention after reporting second quarter results that topped analyst revenue and funds from operations estimates, while also trimming full year earnings guidance and reaffirming its long running quarterly dividend stream. See our latest analysis for Welltower. Welltower’s share price has pulled back slightly in the past week, yet it still trades at US$243.57 after a strong run, with a 30.29% year to date share price return and a 49.02% total shareholder return over the past year. This indicates momentum that has built rather than faded despite the latest earnings guidance trim. If Welltower’s recent move has you thinking about where else capital could work, it may be worth widening the search to resilient infrastructure themes using our 34 power grid technology and infrastructure stocks Bulls point to Welltower’s guidance beats, rising earnings and long dividend record. Bears flag the trimmed outlook and strong share price run. Which story does the current valuation support as you weigh what the recent move really prices in? Welltower’s narrative fair value of $228.14 sits below the current $243.57 share price. This frames the current rally against a richer valuation backdrop. Read the complete narrative. Want to see what earnings and revenue path is baked into that narrative fair value for Welltower? The assumptions lean heavily on occupancy, margins and growth compounding together. Result: Fair Value of $228.14 (OVERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, Welltower’s narrative faces real pressure if interest rates stay elevated or labor costs rise further, since both could squeeze operator margins and valuation multiples. Find out about the key risks to this Welltower narrative. Given the mix of optimism and concern around Welltower, it makes sense to look at the full picture yourself and not just the headline moves. To see how the current thesis balances potential upsides against the issues investors are watching, review the 2 key rewards and 1 important warning sign If Welltower has sharpened your focus on quality, do not stop here. Use the Simply Wall St screener to uncover fresh ideas that could suit your approach. Target potential mispricings by scanning for companies that combine strong fundamentals with attractive entry points using the 49 high quality undervalued stocks. Strengthen your income stream by finding stocks that offer meaningful yields and consistent payments through the 8 dividend fortresses. Prioritise resilience by focusing on companies with steadier risk profiles and sturdier fundamentals using the 83 resilient stocks with low risk scores. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include WELL. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Achieved 25% year-over-year per-share FFO growth, driven by resilient needs-based demand and a strategic portfolio shift toward senior housing. Successfully executed a massive rotation from 'bond proxy' outpatient medical assets into high-growth senior living communities to outperform structural inflation. Reported 15.5% total portfolio same-store NOI growth, marking the 15th consecutive quarter where senior housing operating (SHOP) NOI growth exceeded 20%. Expanded operating margins by 300 basis points to over 32%, surpassing pre-COVID levels through inherent operating leverage and the Welltower Business System (WBS). Leveraged a highly affluent baby boomer customer base that prioritizes quality and service, enabling RevPOR growth of 5.2% to outpace expense growth. Transitioned the corporate identity to 'Welltower 3.0,' focusing on talent density in data science and technology to improve resident and employee experiences. Cultivated a 'win additive-sum' ecosystem where growth operating partners collaborate on culinary and marketing initiatives rather than competing. Increased full-year 2026 FFO guidance midpoint to $6.40 per share, reflecting confidence in the back half of the year and strong investment activity. Anticipates total portfolio same-store NOI growth of 13.75% to 16.0%, underpinned by SHOP subsegment growth of 18.5% to 21.5%. Assumes continued occupancy gains of 350 basis points and RevPOR growth of 5.1% as capacity in the system continues to shrink. Expects to close the majority of a $6 billion incremental investment pipeline later in the year, primarily consisting of newer vintage senior housing assets. Projects a three-year timeline to fully implement the Welltower Business System across the existing portfolio of approximately 2,500 assets. Completed or contracted approximately $15.5 billion of investments year-to-date, with 96% of second-quarter activity sourced off-market. Incurred near-term dilution from $3.6 billion in year-to-date dispositions to extend the long-term duration of the growth curve. Maintained an underlevered balance sheet with net debt to adjusted EBITDA at 2.99x, supported by a 15% quarterly dividend increase to $0.85 per share. Identified structural macro headwinds including deglobalization, labor scarcity due to aging populations, and persistent inflationary pressures. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management defines shadow banks as entities focused on spread investing, interest compression, and leverage as a zero-sum financing game. Welltower differentiates itself by prioritizing value creation through operational excellence and technology to enhance the resident experience. Activity is driven by a generational transfer of wealth where family-owned businesses are exiting after a difficult five-year period. Data science tools allow the team to identify and pursue specific assets granularly rather than waiting for auctions. Management is comfortable with low going-in yields (even zero or negative) if the end-state cash flow potential is high. The current pipeline averages 75% occupancy, providing significant 'manufacturing' upside as assets are stabilized via the Welltower platform. Management is optimistic for the next 20 years, noting that baby boomer net worth growth has meaningfully outpaced senior housing rent growth. The cohort controls approximately $100 trillion in assets, supporting a shift toward discerning, high-end service models.

Interested in Welltower Inc.? Here are five stocks we like better. Welltower reported a record second quarter, with normalized FFO rising about 25% year over year to $1.60 per share. The company raised its 2026 normalized FFO guidance midpoint by $0.12 to $6.40 per share. Senior housing remained the primary growth driver: same-store SHOP NOI increased 20.5%, occupancy rose 330 basis points year over year, and operating margins expanded to more than 32% as pricing gains outpaced limited expense growth. Welltower has completed or contracted approximately $15.5 billion in 2026 investments and said its balance sheet can support about $6 billion of additional activity. The board also raised the quarterly dividend 15% to $0.85 per share. Welltower at 52-Week Highs—But Analysts Believe There's More to Come Welltower (NYSE:WELL) reported second-quarter results marked by higher senior housing occupancy, pricing gains and continued investment activity, while raising its full-year normalized funds from operations outlook. Chief Executive Officer Shankh Mitra said the company generated a record quarter as demand for needs-based senior housing remained resilient amid macroeconomic and geopolitical uncertainty. Normalized FFO increased approximately 25% year over year to $1.60 per diluted share, while net income attributable to common stockholders was $0.61 per diluted share. → Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit Why Welltower's Growth Story Might Outrun Its Rich Valuation The company increased the midpoint of its 2026 normalized FFO guidance by $0.12 to $6.40 per share. Its updated full-year range is $6.36 to $6.44 per share, while net income guidance was set at $3.11 to $3.19 per diluted share. Total portfolio same-store net operating income increased 15.5% year over year, led by 20.5% growth in the senior housing operating portfolio, or SHOP. Chief Operating Officer John Burkart said senior housing now accounts for approximately 70% of Welltower’s total NOI and recorded its 15th consecutive quarter of NOI growth exceeding 20%. → This Tiny AI Supplier Could Be More Important Than the Chipmakers 3 Stocks Diluting Shareholders to Fund Big Long-Term Opportunities Organic revenue rose 9.2%, supported by a 330-basis-point year-over-year increase in same-store occupancy and a 5.2% increase in revenue per occupied room, or RevPOR. Sequential spot occupancy increased 100 basis points during the quarter, compared with an 80-basis-point increase in the same period last year. Expense growth remained restrained. Expense per occupied room, or ExpPOR, rose 0.7%, while compensation per occupied room increased 0.8%, which Burkart described as among the lowest growth rates in the company’s history. The resulting operating margin expanded 300 basis points year over year to more than 32%, above pre-pandemic levels, while SHOP flow-through margins reached 65%. → 2 Stocks Built to Thrive If Inflation Refuses to Fade Mitra said occupancy gains and constrained supply have increased pricing power, particularly in communities approaching or exceeding 90% and 95% occupancy. He also cited the wealth held by the Baby Boomer generation and its willingness to pay for differentiated senior housing experiences and services. During the question-and-answer session, Mitra said the portion of the portfolio with occupancy above 95% generated RevPOR growth of more than 6% and NOI growth above 20%. Welltower said it has completed or has under contract approximately $15.5 billion of investments in 2026. Chief Investment Officer Nikhil Chaudhri said the company completed more than 30 transactions totaling $6.2 billion in the second quarter, acquiring 138 communities across the U.S., Canada and the U.K. The median transaction size was $46 million, and approximately 96% of second-quarter activity was sourced off-market. Through the end of the second quarter, Welltower had completed nearly $9.5 billion of investments. The remaining approximately $6 billion of announced activity consists primarily of newer senior housing properties across 26 transactions. Those properties have an average age of six years, average in-place occupancy of about 75%, and were acquired at roughly a 20% discount to replacement cost, according to Chaudhri. Chaudhri said the company’s acquisition strategy focuses on pursuing specific assets and portfolios based on granular market and property-level research, including opportunities involving family businesses, local owners and generational transfers. Mitra said many owners have seen cash flow recover to pre-COVID levels and are considering retirement or other pursuits after a difficult period for the sector. Mitra emphasized that Welltower is not focused on acquisition yields or “spread investing,” but on future cash flow and total returns. He said newly acquired properties with lower occupancy can offer substantial operating upside as they transition to Welltower’s operating platform and management partners. Management highlighted continued deployment of the Welltower Business System, or WBS, which is intended to improve customer and employee experiences and automate certain back-office workflows. Burkart said operators using WBS have begun refining site labor models and shifting time previously spent on paper-based administrative work toward resident-facing activities. Mitra said the system’s primary objective is not simply efficiency, but improving the completeness and timeliness of information from interactions among residents, families, caregivers and community employees. He said operator performance can vary widely, with NOI growth ranging from near zero or negative levels to 30% or 40% for different operators. Welltower expects deployment across its existing portfolio to take about three additional years, based on the current pace. The company said WBS has already been deployed at roughly 250 communities. During the quarter, Welltower raised $3.9 billion through share issuance, operating partnership unit funding and capital recycling. The company used capital activity and internally generated cash flow to repay nearly $1 billion of senior unsecured notes and fund $6.3 billion of gross investment activity. Net debt to adjusted EBITDAR ended the quarter at 2.99 times, in line with a year earlier. Welltower ended the period with $2.1 billion in cash and said its cash position, recent capital activity and $1.1 billion of incremental dispositions provide capacity to fund approximately $6 billion of additional investment activity, most of which it expects to close later in the year. After quarter-end, the company issued CAD 1.15 billion of senior unsecured notes in Canada across two tranches at a blended coupon of 3.95%. S&P revised the outlook on Welltower’s A- credit rating to positive during the quarter, following Moody’s earlier decision to revise the outlook on its A3 rating to positive. For 2026, Welltower expects total portfolio same-store NOI growth of 13.75% to 16%. Its outlook calls for SHOP NOI growth of 18.5% to 21.5%, based on midpoint assumptions of 9.3% revenue growth, 5.1% RevPOR growth, 350 basis points of occupancy growth and approximately 1% ExpPOR growth. The board also increased the quarterly dividend 15% to $0.85 per share, marking the third consecutive annual dividend increase. Welltower Inc (NYSE: WELL) is a real estate investment trust (REIT) that acquires and manages real estate serving the health care industry. The company specializes in healthcare infrastructure, owning and operating a diversified portfolio of senior housing, post-acute and long-term care communities, and outpatient medical properties. Welltower's assets are designed to support the delivery of health care services through a combination of leased properties, joint ventures, and other capital arrangements with health care operators and providers. The company's property types include assisted living, memory care, independent living and skilled nursing facilities, as well as medical office buildings and other outpatient-care real estate such as ambulatory surgery centers and specialty clinics. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Welltower Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

This article first appeared on GuruFocus. Partial FFO Growth: 25% year-over-year increase. Revenue Growth: Increased by 39% in the quarter. Adjusted EBITDA Growth: Increased by 36% in the quarter. Organic Revenue Growth: 9.2% driven by occupancy gains and pricing power. Same-Store Occupancy Increase: 330 basis points year over year. RevPOR Growth: Unit revenue increased by 5.2% during the quarter. Operating Margin Expansion: 300 basis points to over 32%. Total Portfolio Same-Store NOI Growth: 15.5% year over year. Senior Housing Operating Portfolio NOI Growth: 20.5% year over year. Net Income Attributable to Common Stockholders: $0.61 per diluted share. Normalized FFO: $1.60 per diluted share, 25% year-over-year growth. Net Debt to Adjusted EBITDA: 2.99 times. Quarterly Dividend Increase: 15% to $0.85 per share. Full-Year FFO Guidance Increase: Midpoint raised by $0.12 to $6.40 per share. Investment Activity: $15.5 billion completed or under contract for the year. Warning! GuruFocus has detected 11 Warning Signs with WELL. Is WELL fairly valued? Test your thesis with our free DCF calculator. Release Date: July 28, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Welltower Inc (NYSE:WELL) reported a record quarter with a 25% year-over-year increase in partial FFO growth, reflecting strong demand in the senior housing sector. The company increased its full-year FFO guidance midpoint by $0.12 to $6.40 per share, indicating confidence in continued growth. Revenue and adjusted EBITDA grew by 39% and 36% respectively, showcasing robust financial performance. Same-store occupancy increased by 330 basis points year over year, demonstrating strong occupancy gains. Welltower Inc (NYSE:WELL) announced a 15% increase in its quarterly dividend to $0.85 per share, reflecting confidence in its growth trajectory and financial health. The company faced nearly $1 billion in dispositions during the quarter, which could impact short-term financial performance. Despite strong performance, the macroeconomic and geopolitical environment remains highly uncertain, posing potential risks. The company is experiencing near-term dilution from $3.6 billion of dispositions completed year to date. Welltower Inc (NYSE:WELL) is navigating a challenging environment with rising interest rates and economic uncertainty. The company acknowledges the need for continued investment in operations and technology to maintain its competitive edge. Q: You mentioned the term shadow banks twice in your opening comments. Can you elaborate on the fundamental differences between how you view your business and those players? Also, could you provide an update on the 95%-plus of your portfolio that you mentioned last quarter? A: Shankh Mitra, CEO: The healthcare REIT industry traditionally focused on spread investing, similar to banks. However, Welltower has transitioned from a spread investing vehicle to a capital allocation powerhouse, and now to an operating and technology-first company. Our focus is on enhancing resident and customer experience to create value, rather than just spread investing. Regarding the 95%-plus of our portfolio, it had higher RevPOR growth of over 6% and NOI growth of over 20%. Q: Can you discuss the composition of sellers and what's driving the acceleration in transaction activity? Why are sellers coming to Welltower when there may be higher bidders? A: Nikhil Chaudhri, Co-President, CIO: We pursue assets proactively rather than waiting for them to come to us. Many sellers are family businesses where the next generation is not interested in continuing the business. We also work with local owners and our operating partners to unlock opportunities. Shankh Mitra, CEO, added that generational transfers are happening, with many owners ready to retire or pursue other interests. Q: How do you view the durability and long-term cash flow from your operators? Are you considering consolidating operators to maintain growth? A: Shankh Mitra, CEO: Our goal is cash flow and earnings growth, not just same-store NOI growth. We focus on operators who share our long-term view and culture of enhancing resident and customer experience. We are concentrating our portfolio with operators who have a win-win mentality and are aligned with our vision. Q: How are you finding development opportunities at attractive yields when the industry struggles with high construction costs? A: Shankh Mitra, CEO: Many of our development opportunities come from acquisitions, such as Amica or Barchester, where land was assembled over years. We focus on exceptional products in exceptional locations. We have also taken impairments on some lands where economics didn't work out. Our development decisions are based on untrended returns relative to untrended construction costs. Q: Can you discuss the non-same-store pool within the Senior Housing Operating segment and its growth potential? A: Shankh Mitra, CEO: The non-same-store pool has lower occupancy and margin, but there is significant upside. Recent acquisitions have lower occupancy, providing opportunities for improvement. As these assets transition into the same-store pool, we expect occupancy and pricing power to increase, contributing to cash flow growth. For the complete transcript of the earnings call, please refer to the full earnings call transcript.