Welltower Inc. (NYSE:WELL) Q3 2024 Earnings Conference Call October 29, 2024 9:00 AM ET

Company Participants

Matthew McQueen - General Counsel
Shankh Mitra - Chief Executive Officer
John Burkart - Chief Operating Officer
Nikhil Chaudhri - Chief Investment Officer
Timothy McHugh - Chief Financial Officer

Conference Call Participants

Jonathan Hughes - Raymond James
Nick Joseph - Citi
Ronald Kamdem - Morgan Stanley
Nicholas Yulico - Scotiabank
Austin Wurschmidt - KeyBanc Capital Markets
John Pawlowski - Green Street
Michael Carroll - RBC Capital Markets
Juan Sanabria - BMO Capital Markets
Joshua Dennerlein - Bank of America
John Kilichowski - Wells Fargo
Richard Anderson - Wedbush
Wesley Golladay - Baird
James Kammert - Evercore
Michael Mueller - JPMorgan
Omotayo Okusanya - Deutsche Bank

Operator

Thank you for standing by. My name is Brianna, and I will be your conference operator today. At this time, I’d like to welcome everyone to the Welltower Third Quarter 2024 Earnings Conference Call. Please note that this call is being recorded. At this time, all participants are in a listen-only mode. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions]

I will now turn the conference over to Matt McQueen, General Counsel. Please go ahead, sir.

Matthew McQueen

Thank you, and good morning. As a reminder, certain statements made during this call may be deemed forward-looking statements in the meaning of the Private Securities Litigation Reform Act. Although Welltower believes any forward-looking statements are based on reasonable assumptions, the company can give no assurances that its projected results will be attained. Factors that could cause actual results to differ materially from those in the forward-looking statements are detailed in the company’s filings with the SEC.

And with that, I’ll hand the call over to Shankh, for his remarks.

Shankh Mitra

Thank you, Matt. Good morning, everyone. I’ll review third quarter business trends and our capital allocation priorities. John, will provide an update on operational performance for our senior housing and medical office portfolios. Nikhil will give you an update on the investment landscape, and Tim will walk you through our triple-net businesses, balance sheet highlights and guidance updates.

I’m once again pleased to report another very strong quarter across the board at Welltower from operations to capital deployment, a further strengthening of our balance sheet, continued progress on our operating platform rollout. The result was a 21% increase in FFO per share and our fourth guidance raised for the year, this time by $0.13 per share, reflecting the extraordinary strength of our platform.