Update shared on 04 Dec 2025
Fair value Increased 4.24%Analysts have raised their price target for Welltower by approximately $8.40 per share to about $207.40. This reflects expectations for stronger revenue growth that more than offset a modestly lower profit margin outlook and a slightly higher assumed valuation multiple.
What's in the News
- Filed a follow-on equity offering for up to $7.5 billion of common stock, structured as an at-the-market program (regulatory filing).
- Completed a $5.26 billion follow-on equity offering of common stock across multiple at-the-market tranches, including several large blocks priced around $151.40 to $151.58 per share (regulatory filing).
- Reported no share repurchases from July 1, 2025 to September 30, 2025, leaving the 2022 authorized buyback effectively unused (company disclosure).
- Lowered 2025 earnings guidance, cutting expected net income attributable to common stockholders to a range of $557 million to $598 million, or $0.82 to $0.88 per diluted share, while still projecting strong same-store NOI growth of 13.2% to 14.5% (company guidance update).
- Is reportedly in advanced talks to acquire UK-based Barchester Healthcare and related property company Limecay Limited in a potential transaction valued at more than £4 billion, with an announcement possibly tied to the October 27, 2025 quarterly results (media reports).
Valuation Changes
- The fair value estimate has increased moderately to approximately $207.38 per share from about $198.95 per share.
- The discount rate has edged up slightly to roughly 7.15% from about 7.15%, reflecting a marginally higher required return.
- The revenue growth assumption has risen meaningfully to about 15.0% from roughly 12.1%, indicating stronger expected top line expansion.
- The net profit margin forecast has decreased modestly to around 15.3% from about 16.6%, incorporating expectations for somewhat lower profitability.
- The future P/E multiple has increased slightly to about 92.8x from roughly 89.0x, implying a modestly higher valuation on forward earnings.
Disclaimer
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