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Welltower OP LLC WELL Stock Quote

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Morningstar‘s Stock Analysis WELL

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Senior Housing Occupancy Gains and Record Rental Rate Growth Drive Welltower's Q3 Results

Kevin Brown Senior Analyst

Analyst Note

| Kevin Brown |

No-moat Welltower reported third-quarter results that were mixed compared with our expectations, though we didn’t see anything in the quarter that would materially change our $97 fair value estimate. Same-store occupancy improved 110 basis points sequentially and 390 basis points year over year to 79.7%, which was ahead of our estimate of 78.9%. Welltower reported that revenue per occupied room increased 5.3% year over year in the third quarter, the largest rental rate increase in the company’s history. As a result, same-store revenue for the senior housing portfolio were up 10.8% and same-store net operating income increased 17.6%, beating our estimate of just 9.1% growth. However, same-store NOI for the triple-net senior housing portfolio only increased 1.6%, slightly below our estimate of 2.5% growth, and same-store NOI for the medical office portfolio increased just 1.4%, below our estimate of 3.5% growth. Combined, Welltower reported total company same-store NOI growth of 7.2%, which was in line with our estimate of 6.9% growth for the third quarter. Welltower reported normalized funds from operations of $0.84 per share, which missed our $0.88 estimate but beat the $0.80 figure the company reported in the third quarter of 2021.

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Key Statistics WELL

Company Profile WELL

Business Description

Welltower Inc owns a diversified healthcare portfolio of over 1,800 in-place properties spread across the senior housing, medical office, and skilled nursing/post-acute care sectors. The portfolio includes over 100 properties in both Canada and the United Kingdom as the company looks for additional investment opportunities in countries with mature healthcare systems that operate similarly to that of the United States.

4500 Dorr Street
Toledo, OH, 43615
Industry REIT - Healthcare Facilities
Employees 464

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FAQs for Welltower Inc Stock

Yes. WELL has a forward dividend yield of 3.58%. See WELL’s full dividends and stock split history on the Dividend tab.
Dividend yield allows investors, particularly those interested in dividend-paying stocks, to compare the relationship between a stock’s price and how it rewards stockholders through dividends. The formula for calculating dividend yield is to divide the annual dividend paid per share by the stock price.

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WELL’s market cap is 30.71 Bil.
Market capitalization is calculated by taking a company’s share price and multiplying it by the total number of shares. It’s often used to measure a company’s size. In the Morningstar Style Box, large-cap names account for the largest 70% of U.S. stocks, mid-cap names account for the largest 70–90%, and small-cap names are the remaining 10% of companies.

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WELL’s stock style is Mid Core.
Style is an investment factor that has a meaningful impact on investment risk and returns. Style is calculated by combining value and growth scores, which are first individually calculated.

High-growth stocks tend to represent the technology, healthcare, and communications sectors. They rarely distribute dividends to shareholders, opting for reinvestment in their businesses. More value-oriented stocks tend to represent financial services, utilities, and energy stocks. These are established companies that reliably pay dividends.

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WELL’s price/sales is 5.47.
Price/sales represents the amount an investor is willing to pay for a dollar generated from a particular company’s sales or revenues.

WELL’s price/forward earnings is 26.45.
Forward P/E gives some indication of how cheap or expensive a stock is compared with consensus earnings estimates. The lower the Forward P/E, the cheaper the stock.

WELL’s price/book is 1.60.
Price/book ratio can tell investors approximately how much they’re paying for a company’s assets, based on historical, rather than current, valuations. Historical valuations generally do not reflect a company’s current market value. Value investors frequently look for companies that have low price/book ratios.

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WELL’s beta can be found in Trading Information at the top of this page.
A stock’s beta measures how closely tied its price movements have been to the performance of the overall market.

Compare WELL’s historical performance against its industry peers and the overall market.