Welltower Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Welltower Inc. has submitted its Q1 2024 10-Q filing, detailing financial performance and position as of March 31, 2024.</b>

AI Summary

WELLTOWER INC. (WELL) filed a Quarterly Report (10-Q) with the SEC on April 30, 2024. Welltower Inc. filed its 10-Q report for the quarterly period ended March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. The company's fiscal year ends on December 31. Welltower Inc. is incorporated in Delaware and operates under the SIC code 6798 for Real Estate Investment Trusts. The filing includes financial data for the periods ending March 31, 2024, December 31, 2023, and March 31, 2023.

Why It Matters

For investors and stakeholders tracking WELLTOWER INC., this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial statements and disclosures, crucial for understanding the company's current operational and financial health. The detailed financial information allows stakeholders to assess Welltower's performance against previous periods and make informed investment decisions regarding its real estate investment trust (REIT) portfolio.

Risk Assessment

Risk Level: low — WELLTOWER INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant deviations from typical reporting for a company of this nature.

Analyst Insight

Review the detailed financial statements and segment information within the 10-Q to understand revenue streams, expenses, and any changes in asset or liability composition.

Key Numbers

• 2024-03-31 — Period End Date (Conformed Period of Report)
• 2024-04-30 — Filing Date (As of Date)
• 2024-01-01 — Quarter Start Date (Reporting period)
• 2023-03-31 — Prior Year Quarter End (Comparison period)

Key Players & Entities

• WELLTOWER INC. (company) — Filer name
• 0000766704 (company) — Central Index Key
• 6798 (regulator) — Standard Industrial Classification
• DE (company) — State of Incorporation
• 419-247-2800 (company) — Business Phone
• HEALTH CARE REIT INC /DE/ (company) — Former Company Name
• 19920703 (company) — Date of Name Change
• 20240331 (dollar_amount) — Conformed Period of Report

FAQ

Industry Context

Welltower Inc. operates as a real estate investment trust (REIT) focused on healthcare properties. This sector is influenced by demographic trends, healthcare policy, and operator performance.

Regulatory Implications

As a publicly traded company, Welltower Inc. is subject to SEC regulations, including the requirement to file quarterly (10-Q) and annual (10-K) reports detailing its financial condition and operations.

What Investors Should Do

1. Analyze the balance sheet and income statement for the quarter ended March 31, 2024.
2. Review any disclosures related to debt, leases, or significant contractual obligations.
3. Compare key financial metrics to the same period in the prior year (Q1 2023) if available in the full filing.

Key Dates

• 2024-03-31: Quarterly Period End — The end date for the financial reporting period covered by this 10-Q.
• 2024-04-30: Filing Date — The date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the Q1 2024 report, providing updated financial information compared to the previous fiscal year-end report (10-K) and prior quarterly reports.

Key Financial Figures

• $1.00 — ange on which registered Common stock, $1.00 par value per share WELL New York Stock

Filing Documents

• well-20240331.htm (10-Q) — 2539KB
• exhibit101.htm (EX-10.1) — 119KB
• exhibit102.htm (EX-10.2) — 31KB
• exhibit103.htm (EX-10.3) — 94KB
• exhibit104.htm (EX-10.4) — 39KB
• exhibit3111q24.htm (EX-31.1) — 15KB
• exhibit3121q24.htm (EX-31.2) — 16KB
• exhibit3211q24.htm (EX-32.1) — 7KB
• exhibit3221q24.htm (EX-32.2) — 7KB
• 0000766704-24-000022.txt (&nbsp;) — 12130KB
• well-20240331.xsd (EX-101.SCH) — 82KB
• well-20240331_cal.xml (EX-101.CAL) — 125KB
• well-20240331_def.xml (EX-101.DEF) — 426KB
• well-20240331_lab.xml (EX-101.LAB) — 817KB
• well-20240331_pre.xml (EX-101.PRE) — 618KB
• well-20240331_htm.xml (XML) — 1922KB

FINANCIAL INFORMATION Page

PART I. FINANCIAL INFORMATION Page

Financial Statements (Unaudited) 3

Item 1. Financial Statements (Unaudited) 3 Consolidated Balance Sheets 3 Consolidated Statements of Comprehensive Income 4 Consolidated Statements of Equity 6 Consolidated Statements of Cash Flows 7 Notes to Unaudited Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations 26

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 26

Quantitative and Qualitative Disclosures About Market Risk 48

Item 3. Quantitative and Qualitative Disclosures About Market Risk 48

Controls and Procedures 49

Item 4. Controls and Procedures 49

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings 50

Item 1. Legal Proceedings 50

Risk Factors 50

Item 1A. Risk Factors 50

Unregistered Sales of Equity Securities and Use of Proceeds 50

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 50

Other Information 50

Item 5. Other Information 50

Exhibits 51

Item 6. Exhibits 51 Signatures 52

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION CONSOLIDATED BALANCE SHEETS WELLTOWER INC. AND SUBSIDIARIES (In thousands) March 31, 2024 (Unaudited) December 31, 2023 (Note) Assets: Real estate investments: Real property owned: Land and land improvements $ 4,754,699 $ 4,697,824 Buildings and improvements 37,841,775 37,796,553 Acquired lease intangibles 2,158,915 2,166,470 Real property held for sale, net of accumulated depreciation 422,225 372,883 Construction in progress 1,342,410 1,304,441 Less accumulated depreciation and amortization ( 9,537,562 ) ( 9,274,814 ) Net real property owned 36,982,462 37,063,357 Right of use assets, net 348,892 350,969 Real estate loans receivable, net of credit allowance 1,426,094 1,361,587 Net real estate investments 38,757,448 38,775,913 Other assets: Investments in unconsolidated entities 1,719,646 1,636,531 Goodwill 68,321 68,321 Cash and cash equivalents 2,388,488 1,993,646 Restricted cash 89,847 82,437 Straight-line rent receivable 469,976 443,800 Receivables and other assets 1,059,859 1,011,518 Total other assets 5,796,137 5,236,253 Total assets $ 44,553,585 $ 44,012,166 Liabilities and equity Liabilities: Unsecured credit facility and commercial paper $ — $ — Senior unsecured notes 12,171,913 13,552,222 Secured debt 2,033,232 2,183,327 Lease liabilities 381,320 383,230 Accrued expenses and other liabilities 1,419,212 1,521,660 Total liabilities 16,005,677 17,640,439 Redeemable noncontrolling interests 300,915 290,605 Equity: Common stock 592,637 565,894 Capital in excess of par value 35,105,097 32,741,949 Treasury stock ( 114,842 ) ( 111,578 ) Cumulative net income 9,272,190 9,145,044 Cumulative dividends ( 17,126,302 ) ( 16,773,773 ) Accumulated other comprehensive income (loss) ( 180,837 ) ( 163,160 ) Total Welltower Inc. stockholders' equity 27,547,943 25,404,376 Noncontrolling interests 699,050 676,746 Total equity 28,246,993 26,081,122 Total liabilities and equity $ 44,553,585 $

View Full Filing

View this 10-Q filing on SEC EDGAR