Strong Financial Performance: Welltower Inc. reported a 22% year-over-year growth in funds from operations (FFO) per share for Q2 2025, exceeding expectations. The company raised its full-year FFO guidance to a midpoint of $5.10 per share, up by $0.13, with total portfolio same-store net operating income (NOI) growth of 13.8%.

Seniors Housing Operating Portfolio: The seniors housing operating portfolio exhibited impressive performance, with same-store NOI growth of 23.4%, marking the 11th consecutive quarter exceeding 20%. Organic revenue growth stood at 10%, driven by a 420 basis point increase in occupancy. This reflects strong demand and Welltower's strategic positioning in attractive micro markets.

Challenges with Recent Acquisitions: The transition of the Holiday by Atria portfolio is considered Welltower's biggest capital allocation mistake to date. The company expressed disappointment regarding its inability to generate profits from it so far. While there has been a 560 basis point improvement in occupancy since Q1, NOI recovery is anticipated to turn the corner in Q4, indicating potential unfulfilled expectations.