Welltower Inc. Files Q3 2024 10-Q Report

TL;DR

**WELL Q3 2024 10-Q FILED** - Financials and operations update for period ending Sept 30.

AI Summary

Welltower Inc. filed its 10-Q for the period ending September 30, 2024. The company, formerly known as Health Care REIT Inc., reported financial results for the third quarter of 2024. Key financial data and operational details are provided in this filing, which covers the period from January 1, 2024, to September 30, 2024.

Why It Matters

This filing provides investors with a detailed look at Welltower's financial performance and operational status for the third quarter of 2024, crucial for understanding the real estate investment trust's health and future prospects.

Risk Assessment

Risk Level: medium — As a real estate investment trust, Welltower is subject to market fluctuations, interest rate changes, and tenant-specific risks that can impact its financial performance.

Key Numbers

• 20240930 — Period End Date (The 10-Q filing covers financial data up to this date.)
• 2024-01-01 — Period Start Date (The 10-Q filing covers financial data from this date.)

Key Players & Entities

• WELLTOWER INC. (company) — Filer of the 10-Q report.
• HEALTH CARE REIT INC /DE/ (company) — Former name of Welltower Inc.
• 20240930 (date) — Period of report for the 10-Q filing.
• 4500 DORR STREET (location) — Street address for Welltower Inc.'s business and mailing.
• TOLEDO (location) — City for Welltower Inc.'s business and mailing.
• OH (location) — State for Welltower Inc.'s business and mailing.
• 43615 (location) — ZIP code for Welltower Inc.'s business and mailing.

FAQ

Key Financial Figures

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

Filing Documents

• well-20240930.htm (10-Q) — 3429KB
• exhibit3113q24.htm (EX-31.1) — 15KB
• exhibit3123q24.htm (EX-31.2) — 16KB
• exhibit3213q24.htm (EX-32.1) — 7KB
• exhibit3223q24.htm (EX-32.2) — 7KB
• 0000766704-24-000039.txt ( ) — 14423KB
• well-20240930.xsd (EX-101.SCH) — 87KB
• well-20240930_cal.xml (EX-101.CAL) — 125KB
• well-20240930_def.xml (EX-101.DEF) — 474KB
• well-20240930_lab.xml (EX-101.LAB) — 968KB
• well-20240930_pre.xml (EX-101.PRE) — 718KB
• well-20240930_htm.xml (XML) — 2461KB

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 8 Notes to Unaudited Consolidated Financial Statements 9

Management's Discussion and Analysis of Financial Condition and Results of Operations 31

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 31

Quantitative and Qualitative Disclosures About Market Risk 56

Item 3. Quantitative and Qualitative Disclosures About Market Risk 56

Controls and Procedures 57

Item 4. Controls and Procedures 57

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings 58

Item 1. Legal Proceedings 58

Risk Factors 58

Item 1A. Risk Factors 58

Unregistered Sales of Equity Securities and Use of Proceeds 58

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 58

Other Information 58

Item 5. Other Information 58

Exhibits 59

Item 6. Exhibits 59 Signatures 60

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION CONSOLIDATED BALANCE SHEETS WELLTOWER INC. AND SUBSIDIARIES (In thousands) September 30, 2024 (Unaudited) December 31, 2023 (Note) Assets: Real estate investments: Real property owned: Land and land improvements $ 5,075,391 $ 4,697,824 Buildings and improvements 40,646,767 37,796,553 Acquired lease intangibles 2,268,889 2,166,470 Real property held for sale, net of accumulated depreciation 110,689 372,883 Construction in progress 1,374,996 1,304,441 Less accumulated depreciation and amortization ( 10,276,509 ) ( 9,274,814 ) Net real property owned 39,200,223 37,063,357 Right of use assets, net 358,160 350,969 Investments in sales-type leases, net 469,260 — Real estate loans receivable, net of credit allowance 1,840,453 1,361,587 Net real estate investments 41,868,096 38,775,913 Other assets: Investments in unconsolidated entities 1,742,836 1,636,531 Goodwill 68,321 68,321 Cash and cash equivalents 3,564,942 1,993,646 Restricted cash 219,466 82,437 Straight-line rent receivable 518,387 443,800 Receivables and other assets 971,650 1,011,518 Total other assets 7,085,602 5,236,253 Total assets $ 48,953,698 $ 44,012,166 Liabilities and equity Liabilities: Unsecured credit facility and commercial paper $ — $ — Senior unsecured notes 13,295,096 13,552,222 Secured debt 2,468,527 2,183,327 Lease liabilities 392,360 383,230 Accrued expenses and other liabilities 1,733,712 1,521,660 Total liabilities 17,889,695 17,640,439 Redeemable noncontrolling interests 270,182 290,605 Equity: Common stock 620,107 565,894 Capital in excess of par value 37,949,035 32,741,949 Treasury stock ( 114,876 ) ( 111,578 ) Cumulative net income 9,976,753 9,145,044 Cumulative dividends ( 17,901,600 ) ( 16,773,773 ) Accumulated other comprehensive income (loss) ( 195,138 ) ( 163,160 ) Total Welltower Inc. stockholders' equity 30,334,281 25,404,376 Noncontrolling interests 459,540 676,746 Total equity 30,793,821 26,

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View this 10-Q filing on SEC EDGAR