Welltower said it operates an ATM Program for up to $7,500,000,000 of common stock under an equity distribution agreement entered into on March 28, 2025, with remaining capacity of approximately $2,240,602,000 as of October 24, 2025 and no outstanding forward sales agreements.

10-QQuarterly reportFiled Oct 28, 2025Period of report Sep 30, 2025Summary published (UTC) Oct 10, 2026

Key points

AI summary

Welltower said it operates an ATM Program for up to $7,500,000,000 of common stock under an equity distribution agreement entered into on March 28, 2025, with remaining capacity of approximately $2,240,602,000 as of October 24, 2025 and no outstanding forward sales agreements.
The company said resident fees and services and property operating expenses in Seniors Housing Operating increased for both the 3 and 9 months ended September 30, 2025 compared to the same periods in the prior year, citing acquisitions including the Care UK acquisition, construction conversions and conversions of Triple-net properties to Seniors Housing Operating RIDEA structures as key factors. It added that occupancy and rate growth have continued to steadily increase from the prior year.
Welltower said the primary factor in the increase in rental income in the Triple-net segment was the write-off of straight-line receivable and unamortized lease incentive balances of $97,674,000 during the 9 months ended September 30, 2024, and explained that a portion of the increase was attributable to acquisitions.
The company said it recorded impairment charges of $36,922,000 related to 9 properties in Seniors Housing Operating and $38,437,000 related to 6 properties in Triple-net during the 9 months ended September 30, 2025.

Key figures

Quarter ended September 30, 2025

Revenue: $2.1B
Net income: $282M
EPS: $0.41

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

ATM Program Remaining Capacity and Common Stock Issuance Structure

Welltower said it operates an ATM Program for up to $7,500,000,000 of common stock under an equity distribution agreement entered into on March 28, 2025, with remaining capacity of approximately $2,240,602,000 as of October 24, 2025 and no outstanding forward sales agreements.

Source · Based on the MD&A text of the filing

Seniors Housing Operating Revenue Growth Factors and Occupancy

The company said resident fees and services and property operating expenses in Seniors Housing Operating increased for both the 3 and 9 months ended September 30, 2025 compared to the same periods in the prior year, citing acquisitions including the Care UK acquisition, construction conversions and conversions of Triple-net properties to Seniors Housing Operating RIDEA structures as key factors. It added that occupancy and rate growth have continued to steadily increase from the prior year.

Source · Based on the MD&A text of the filing

Company Explanation of Triple-net Rental Income Increase

Welltower said the primary factor in the increase in rental income in the Triple-net segment was the write-off of straight-line receivable and unamortized lease incentive balances of $97,674,000 during the 9 months ended September 30, 2024, and explained that a portion of the increase was attributable to acquisitions.

Source · Based on the MD&A text of the filing

Impairment Charges Recorded in the 9 Months Ended 2025

The company said it recorded impairment charges of $36,922,000 related to 9 properties in Seniors Housing Operating and $38,437,000 related to 6 properties in Triple-net during the 9 months ended September 30, 2025.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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