WELLTOWER INC. (WELL)

Welltower Inc. is a real estate investment trust (REIT) and S&P 500 company operating as an UPREIT structure, positioned at the center of the "silver economy" with a focus on rental housing for aging seniors across the United States, United Kingdom and Canada. The company's portfolio consists of more than 2,500 seniors and wellness housing communities situated at the intersection of housing and hospitality. Welltower invests primarily in seniors housing, wellness housing and post-acute care communities, and organizes its business into three reportable segments: Seniors Housing Operating, Triple-net and Outpatient Medical.

The Seniors Housing Operating segment, which accounted for 78% of total revenues in 2025, includes wellness housing, independent living, continuing care retirement communities, assisted living, Alzheimer's/dementia care, and UK care homes, managed through relationships with 62 operating partners (including major partners such as Care UK, Cogir Management Company and Sunrise Senior Living) often under RIDEA structures. The Triple-net segment (11% of 2025 revenues) leases properties—including independent/supportive living, assisted living, CCRCs, memory care, UK care homes and long-term/post-acute care/skilled nursing facilities—to tenants under long-term master leases, with Integra Healthcare Properties as a significant relationship. The Outpatient Medical segment (7% of 2025 revenues) consists largely of triple-net leased buildings affiliated with health systems and leased to investment-grade healthcare providers.

Beyond direct property ownership, Welltower deploys capital through acquisitions, developments, construction funding, real estate loans, and investments in unconsolidated joint venture entities, including a private funds management business. The company leverages a proprietary Data Science platform and an end-to-end operating framework known as the Welltower System to inform underwriting, site selection, and operational execution across its operator network. Welltower competes with other REITs, private equity and hedge fund investors, insurance companies, healthcare operators, developers and government-sponsored agencies for investment opportunities, while its operating partners and tenants compete for residents and patients based on quality of care, location, services, and price.

The company also emphasizes sustainability initiatives, environmental stewardship, workforce diversity, and charitable engagement through the Welltower Charitable Foundation.