Welltower Inc. Files 2024 10-K

TL;DR

Welltower filed its 2024 10-K, detailing its real estate portfolio and financial health for the year ending Dec 31, 2024.

AI Summary

Welltower Inc. filed its 2024 10-K on February 12, 2025, reporting on its fiscal year ending December 31, 2024. The company, formerly known as Health Care REIT Inc., operates as a Real Estate Investment Trust. Key financial details and operational aspects for the year are presented in this comprehensive filing.

Why It Matters

This filing provides investors and stakeholders with a detailed overview of Welltower's financial performance, strategic positioning, and risks for the 2024 fiscal year, crucial for investment decisions.

Risk Assessment

Risk Level: medium — As a real estate investment trust, Welltower is subject to market fluctuations, interest rate changes, and tenant-specific risks inherent in the healthcare real estate sector.

Key Numbers

• 0.104862 — Interest and Fee Income (Related to Loans and Leases)
• 0.078218 — Other Assets (Likely a ratio or component of assets)

Key Players & Entities

• WELLTOWER INC. (company) — Filer
• HEALTH CARE REIT INC /DE/ (company) — Former Company Name
• 4500 DORR STREET (location) — Business and Mail Address
• TOLEDO (location) — City
• OH (location) — State
• 43615 (location) — ZIP Code
• 419-247-2800 (phone_number) — Business Phone
• 20241231 (date) — Conformed Period of Report
• 20250212 (date) — Filed as of Date

FAQ

Key Financial Figures

• $1.00 — ange on Which Registered Common Stock, $1.00 par value WELL New York Stock Exchange
• $1,219,720,000 — outstanding construction investments of $1,219,720,000 and were committed to provide additiona
• $540,297,000 — ovide additional funds of approximately $540,297,000 to complete construction for consolidat
• $2,027,586,000 — utstanding loans, net of allowances, of $2,027,586,000 with an interest yield of approximately
• $1,768,772,000 — vestments in unconsolidated entities of $1,768,772,000. Our investments in unconsolidated enti
• $941,216,000 — 25 properties with a carrying value of $941,216,000 as of December 31, 2024, which are clas

Filing Documents

• well-20241231.htm (10-K) — 15350KB
• exhibit34-10xk2024.htm (EX-3.4) — 14KB
• exhibit411-10xk2024.htm (EX-4.11) — 115KB
• exhibit103-10xk2024.htm (EX-10.3) — 4KB
• exhibit19-10xk2024.htm (EX-19) — 77KB
• exhibit21-10xk2024.htm (EX-21) — 465KB
• exhibit22-10xk2024.htm (EX-22) — 1KB
• exhibit23-10xk2024.htm (EX-23) — 5KB
• exhibit24-10xk2024.htm (EX-24) — 12KB
• exhibit3114q24.htm (EX-31.1) — 15KB
• exhibit3124q24.htm (EX-31.2) — 16KB
• exhibit3214q24.htm (EX-32.1) — 7KB
• exhibit3224q24.htm (EX-32.2) — 7KB
• exhibit97-10xk2024.htm (EX-97) — 10KB
• well-20241231_g1.gif (GRAPHIC) — 8KB
• well-20241231_g2.jpg (GRAPHIC) — 80KB
• 0000766704-25-000009.txt ( ) — 69316KB
• well-20241231.xsd (EX-101.SCH) — 491KB
• well-20241231_cal.xml (EX-101.CAL) — 173KB
• well-20241231_def.xml (EX-101.DEF) — 1742KB
• well-20241231_lab.xml (EX-101.LAB) — 3330KB
• well-20241231_pre.xml (EX-101.PRE) — 2224KB
• well-20241231_htm.xml (XML) — 15887KB

Risk Factors 29

Item 1A. Risk Factors 29

Unresolved Staff Comments 45

Item 1B. Unresolved Staff Comments 45

Cybersecurity 45

Item 1C. Cybersecurity 45

Properties 47

Item 2. Properties 47

Legal Proceedings 48

Item 3. Legal Proceedings 48

Mine Safety Disclosures 48

Item 4. Mine Safety Disclosures 48 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 49

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 49

[Reserved] 50

Item 6. [Reserved] 50

Management's Discussion and Analysis of Financial Condition and Results of Operations 51

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 51

Quantitative and Qualitative Disclosures About Market Risk 77

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 77

Financial Statements and Supplementary Data 79

Item 8. Financial Statements and Supplementary Data 79

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 122

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 122

Controls and Procedures 122

Item 9A. Controls and Procedures 122

Other Information 124

Item 9B. Other Information 124

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 124

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 124 PART III

Directors, Executive Officers and Corporate Governance 124

Item 10. Directors, Executive Officers and Corporate Governance 124

Executive Compensation 124

Item 11. Executive Compensation 124

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 124

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 124

Certain Relationships and Related Transactions and Director Independence 124

Item 13. Certain Relationships and Related Transactions and Director Independence 124

Principal Accounting Fees and Services 124

Item 14. Principal Accounting Fees and Services 124 PART IV

Exhibits and Financial Statement Schedules 126

Item 15. Exhibits and Financial Statement Schedules 126

Form 10-K Summary 132

Item 16. Form 10-K Summary 132 Signature 133 PART I

Business

Item 1. Business General Welltower Inc. (NYSE:WELL), an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of healthcare infrastructure. The company invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate and infrastructure needed to scale innovative care delivery models and improve people's wellness and overall healthcare experience. Welltower , a real estate investment trust ("REIT"), owns interests in properties concentrated in major, high-growth markets in the United States ("U.S."), Canada and the United Kingdom ("U.K."), consisting of seniors housing, post-acute communities and outpatient medical properties. More information is available on the Internet at www.welltower.com. The information on our website is not incorporated by reference in this Annual Report on Form 10-K, and our web address is included as an inactive textual reference only. We are structured as an umbrella partnership REIT, or "UPREIT," under which substantially all of our business is conducted through Welltower OP LLC ("Welltower OP"), the day-to-day management of which is exclusively controlled by Welltower Inc. Our primary objectives are to protect stockholder capital and enhance stockholder value. We seek to pay consistent cash dividends to stockholders and create opportunities to increase dividend payments to stockholders as a result of annual increases in net operating income and portfolio growth. To meet these objectives, we invest across the full spectrum of seniors housing and healthcare real estate and diversify our investment portfolio by property type, relationship and geographic location. Welltower Inc. is the initial member and majority owner of Welltower OP, with an approximate ownership interest of 99.707% as of December 31, 2024. Welltower Inc. issues equity from time to time, the net proceeds of which it is obligated to contribute as additional capital to Welltower OP. All debt including

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View this 10-K filing on SEC EDGAR