Welltower Inc (NYSE:WELL) stock fell 0.11% (As on April 29, 11:36:20 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the first quarter of FY 26. The company has reported total portfolio year-over-year same store NOI (“SSNOI”) growth of 16.4%, driven by SSNOI growth in the Seniors Housing Operating (“SHO”) portfolio of 22.1%. SHO portfolio organic same store revenue growth increased 9.5% year-over-year in the first quarter, resulting from 370 basis points (“bps”) of average occupancy growth and 5.0% growth in Revenue Per Occupied Room (“RevPOR”). Year-to-date, closed or under contract to close $10.5 billion of investment activity, including $3.3 billion of pro rata gross investments completed in the first quarter and $7.2 billion of pro rata gross investments closed or are under contract to close subsequent to quarter-end. The company has completed $2.8 billion of pro rata dispositions and loan repayments during the first quarter, comprising $1.4 billion of Outpatient Medical (“OM”) dispositions which includes follow-on tranches of the previously announced OM portfolio transaction, $524 million of long-term/post-acute care properties which includes the previously announced sale of properties within the Integra joint venture and $873 million of loan repayments. As of March 31, 2026, reported Net Debt to Adjusted EBITDA of 2.73x and approximately $11.1 billion of available liquidity inclusive of $4.8 billion of available cash and restricted cash and full capacity under the recently upsized $6.25 billion line of credit. The company has repaid $700 million of senior unsecured notes at maturity in April 2026 with free cash flow. The company has expanded the capital light revenue opportunities through the licensing of the data science platform to Public Storage and a preeminent global private equity real estate firm.

Moreover, in March, WELL closed on an amended $6.25 billion senior unsecured revolving credit line, which enhances flexibility and achieves a 15 bps improvement in pricing. The revolving facility is comprised of a $4.25 billion tranche that matures on March 6, 2030 and a $2.0 billion tranche that matures on July 24, 2029. Net debt to consolidated enterprise value decreased to 8.8% as of March 31, 2026 from 10.8% as of December 31, 2025.

WELL in the first quarter of FY 26 has reported the adjusted funds from operations (FFO) per share of $1.47, beating the analysts’ estimates for the adjusted FFO per share of $1.45, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue of $3.35 billion in the first quarter of FY 26, beating the analysts’ estimates for revenue by 3.68%