Core Insights - Welltower Inc. reported third-quarter 2025 normalized funds from operations (FFO) per share of $1.34, exceeding the Zacks Consensus Estimate of $1.30, and reflecting a year-over-year increase of 20.7% [1][9] - The company achieved revenues of $2.69 billion, surpassing the Zacks Consensus Estimate of $2.65 billion, with a year-over-year growth of 30.6% [2] - Welltower increased its guidance for 2025 normalized FFO per share to a range of $5.24-$5.30, up from the previous range of $5.06-$5.14 [8][9] Financial Performance - The total portfolio same-store net operating income (SSNOI) grew by 14.5% year over year, driven by a 20.3% increase in the seniors housing operating (SHO) portfolio [3][9] - The SHO portfolio's same-store revenues rose by 9.7% year over year, supported by a 400 basis-point increase in average occupancy and a 4.8% growth in Revenue per Occupied Room (RevPOR) [3] Investments and Acquisitions - Welltower's pro-rata gross investments in the third quarter totaled $1.9 billion, which included $1.8 billion in acquisitions and loan funding [4] - In October 2025, Welltower acquired a real estate portfolio in the U.K. for nearly £5.2 billion operated by Barchester and 100% equity ownership of another portfolio operated by HC-One for £1.2 billion [2] Operating Expenses - Property operating expenses increased by 30% year over year to $1.58 billion [5] Balance Sheet and Liquidity - As of September 30, 2025, Welltower had $11.9 billion of available liquidity, which included $6.9 billion in cash and restricted cash, along with full capacity under its $5 billion line of credit [6] Dividend Information - Welltower announced a cash dividend of 74 cents per share for the third quarter of 2025, marking the company's 218th consecutive quarterly cash dividend payout [7] Future Development - The company expects to fund an additional $80 million of development in 2025 for ongoing projects as of September 30, 2025 [10]