Welltower Reports 40% Revenue Growth to $2.55 Billion in Q2 2025

Welltower Inc. (NYSE: WELL) reported significant financial performance improvements in its latest 10-Q filing for the quarter ending June 30, 2025. The company achieved total revenues of $2.55 billion for the quarter, a 40% increase from $1.82 billion in the same period last year. For the first half of 2025, revenues reached $4.97 billion, up 35% from $3.68 billion in the first half of 2024. The increase in revenue was primarily driven by a substantial rise in resident fees and services, which totaled $1.97 billion for the quarter, compared to $1.39 billion a year earlier, reflecting a 41% increase.

Welltower's net income attributable to common stockholders also saw a notable rise, reaching $301.9 million for the second quarter, up from $254.7 million in the prior year, marking a 19% increase. For the first half of 2025, net income was $559.8 million, a 47% increase from $381.9 million in the same period of 2024. The company's earnings per share (EPS) for the quarter was $0.46, compared to $0.42 in the previous year, while the EPS for the first half was $0.86, up from $0.65.

Strategically, Welltower has been active in expanding its portfolio through acquisitions. Notably, the company acquired 48 skilled nursing facilities for approximately $990.9 million in February 2025 and completed the acquisition of Care UK, which operates 136 seniors housing properties, for $841.5 million in October 2024. These acquisitions are expected to enhance Welltower's operational capabilities and market presence in the seniors housing sector. Additionally, the company announced plans to acquire a portfolio of 38 seniors housing communities and nine development parcels for C$4.6 billion, with closing anticipated in late 2025 or early 2026.

Operationally, Welltower reported a total of 2,227 properties in its portfolio as of June 30, 2025, with a significant increase in occupancy rates across its segments. The average occupancy rate for the Seniors Housing Operating segment rose to 85.6% in the second quarter of 2025, compared to 82.8% in the same quarter of 2024. The company also reported a consolidated net operating income (NOI) of $1.03 billion for the quarter, a 45% increase from $713.6 million in the prior year. This growth in NOI reflects the successful integration of newly acquired properties and improved operational efficiencies.

Looking ahead, Welltower's management expressed optimism about the company's growth trajectory, citing a strong pipeline of acquisition opportunities and ongoing improvements in occupancy and rental rates. The company remains focused on enhancing shareholder value through strategic investments and maintaining a robust capital structure, supported by a strong liquidity position with $4.4 billion in cash and cash equivalents as of June 30, 2025.