WELL

WELLTOWER INC.

Ticker: WELLReal EstateREITsS&P 500
HQ TOLEDO, OHCIK 766704FY end 12-31Book / share $63.40Shares 732M
Revenue (FY)
$10.84B+35.63%
TTM $12.76B
Op. margin
0.00%
Net income
$961.84M-1.13%
TTM $1.62B
Operating cash
$2.88B+27.71%
TTM $3.19B
Free cash flow
$1.83B+30.92%
TTM $2.02B
Return on equity
2.51%-0.76%
TTM 3.34%
Debt / equity
0.46-0.03%
TTM 0.38
Shares outstanding
679.5M+11.63%
TTM 732.1M

The business

Welltower Inc. (NYSE: WELL) operates as a real estate investment trust positioned at the center of the silver economy, focusing on rental housing for aging seniors across the United States, United Kingdom, and Canada. The company maintains a portfolio of over 2,500 seniors and wellness housing communities designed at the intersection of housing and hospitality, creating vibrant communities for mature renters and older adults. More information is available at www.welltower.com.

The company operates through three reportable segments. Seniors Housing Operating, which accounts for 78 percent of total revenues, includes wellness housing, independent living, continuing care retirement communities, assisted living, Alzheimer's and dementia care facilities, and care homes with or without nursing in the United Kingdom. Triple-net properties, representing 11 percent of revenues, are primarily leased to operators under long-term master leases with fixed contractual terms of 10 to 20 years, covering independent living, assisted living, continuing care retirement communities, Alzheimer's and dementia care, care homes, and long-term post-acute care facilities. The Outpatient Medical segment comprises 7 percent of revenues and consists primarily of triple-net leased properties to investment-grade healthcare providers, with approximately 91 percent affiliated with health systems.

Welltower employs 712 people across its operations, with 642 located in the United States, 49 in the United Kingdom, and 21 in Canada. The company structures itself as an umbrella partnership REIT, with substantially all business conducted through Welltower OP LLC, which Welltower Inc. controls with an approximate 98.378 percent ownership interest as of December 31, 2025.

The company deploys capital through acquisitions, developments, and joint venture partnerships, supported by a proprietary data science platform and the Welltower Business System, an end-to-end operating platform providing standardized data, technology, and operating practices across its seniors housing operating partner network. As of December 31, 2025, Welltower had outstanding construction investments of approximately $739 million and outstanding loans of approximately $2.08 billion with an interest yield of approximately 8.9 percent annually. The company maintains investments in unconsolidated entities valued at approximately $1.81 billion.

Sector
Real Estate
Industry
REITs
HQ
TOLEDO, OH
FY end
12-31
CIK
766704
SIC
6798
Financial performance · annual
20132025
$-1.28B$2.55B$6.38B$10.21B$14.04B2013201420152016201720182019202020212022202320242025TTMTTMTTM

Ownership

Who holds WELLTOWER INC. — across funds, superinvestors and bonds · N-PORT 2026Q2 · 13F 2026-06-30

930
funds hold it
0 of 35
superinvestors hold it
$70.15B
fund-held value
44.0%
of shares held by funds
19
bond issues held by funds

Top fund holders

Fund% of fundValue
VANGUARD REAL ESTATE INDEX FUND
VNQ · VANGUARD SPECIALIZED FUNDS
7.84%$5.48B
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.22%$5.09B
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.25%$4.15B
Washington Mutual Investors Fund
AWSHX
1.71%$3.67B
iShares Core S&P 500 ETF
IVV · iShares Trust
0.25%$2.20B

Bonds held by funds

Funds report holding 19 issues of WELLTOWER INC.'s debt, $2.32B at fund-held market value — what funds hold, not the company's debt outstanding. Weighted-average coupon 3.70%, maturing 20272048.

IssueCouponMaturesFundsFund-held
Welltower OP, LLC, Convertible3.125%2029-07-1551$545.26M
WELL 5.125 07/01/355.125%2035-07-0172$285.70M
WELL 4.5 07/01/304.500%2030-07-0174$275.87M
WELL 2.75 05/15/282.750%2028-05-1538$210.15M
WELL 3.1 01/15/303.100%2030-01-1562$165.15M
Welltower OP LLC2.750%2031-01-1558$142.58M
Welltower OP LLC4.250%2028-04-1552$104.04M
Welltower OP LLC4.130%2029-03-1553$102.01M
Welltower OP LLC3.850%2032-06-1542$77.64M
Welltower OP LLC2.750%2032-01-1544$76.68M

The 10 largest by fund-held value, of 19.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Go deeper in your own AI

15 years of statements, narrative and filings — queryable over MCP.

Read WELL's last four 10-Qs: what changed in segment trends, margins and management's narrative?
Run in your AI →

Professionals can also use the built-in AI chat (subscription + your own Anthropic key).

15 years of WELLTOWER INC.'s financials

Income statement, balance sheet and cash flow across 15 years, every filing with its disclosures, and each number traceable to the filing it came from — free with an account, no card required.

Sign in free