Welltower Reports Performance and Strategic Updates

Welltower's Performance

Welltower Inc. (NYSE: WELL), a leading healthcare real estate investment trust (REIT), reported solid financial results for the fourth quarter and full year 2022.

For the fourth quarter, Welltower reported total revenues of $1.3 billion, representing an increase of 2.3% year-over-year. Net income attributable to common stockholders was $176.3 million, or $0.79 per diluted share, compared to $223.2 million, or $1.00 per diluted share, in the prior-year quarter. Funds from operations (FFO) were $264.5 million, or $1.19 per diluted share, compared to $256.0 million, or $1.15 per diluted share, in the fourth quarter of 2021.

For the full year 2022, Welltower reported total revenues of $5.1 billion, an increase of 4.1% compared to the prior year. Net income attributable to common stockholders was $834.3 million, or $3.75 per diluted share, compared to $842.4 million, or $3.78 per diluted share, in 2021. FFO for the year was $1.0 billion, or $4.50 per diluted share, compared to $1.0 billion, or $4.43 per diluted share, in the prior year.

Welltower's Strategic Updates

In addition to its financial results, Welltower also provided an update on its strategic initiatives.

The company announced that it has made significant progress in its plan to sell non-core assets and reduce its leverage ratio. In 2022, Welltower sold $1.2 billion of non-core assets, and it expects to sell an additional $1.0 billion of non-core assets in 2023.

Welltower also announced that it is making progress in its efforts to develop new healthcare real estate assets. In 2022, the company started construction on 12 new development projects, and it expects to start construction on an additional 15 to 20 new development projects in 2023.

Conclusion

Welltower's financial results and strategic updates demonstrate the company's continued commitment to providing high-quality healthcare real estate solutions to its tenants and investors. The company's strong financial performance and its progress in executing its strategic initiatives position it well for continued success in the years to come.