Welltower (NYSE:WELL) is experiencing a strong start to 2024, building on momentum from the end of 2023 and a robust investment landscape. Mitra, the CEO, outlined the company’s five growth pillars, particularly in the senior living sector, which is expected to see significant growth in the coming years.
Looking ahead, Welltower is gearing up for further growth through transactions, especially with the senior living industry facing a substantial amount of loan maturities in 2024, providing opportunities for REITS like Welltower.
Mitra expressed confidence in the company’s market position, citing a significant equity and private credit opportunities resulting from market volatility. Net operating income (NOI) grew by 24.4% in 2023, with projected growth of 18% in the midpoint of the year.
Despite market volatility, Welltower remains optimistic, with a record-breaking year in 2023 for transactions. Analysts have acknowledged Welltower’s efforts to redefine the senior housing business model, which has resulted in positive operating results.
In the ongoing financial year, Welltower reported unprecedented trends, including a significant sequential occupancy increase in senior housing compared to previous years. The acquisition of a 25-community active adult portfolio from Affinity Living Communities for $969 million further demonstrates Welltower’s commitment to growth and investment.
Looking ahead, Welltower plans to roll out the Cogir platform in the first half of 2024, aiming to improve various aspects of senior living communities and simplify customer experiences. Overall, Welltower’s CEO is confident about the company’s growth and expects the pipeline to remain robust in the near term.
