v3.26.1
CONSOLIDATED STATEMENTS OF EQUITY (UNAUDITED) - USD ($)
$ in Thousands
Total
Common Stock
Capital in Excess of Par Value
Treasury Stock
Cumulative Net Income
Cumulative Dividends
Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interests
Balances at beginning of period at Dec. 31, 2024 $ 32,316,366 $ 637,002 $ 40,016,503 $ (114,176) $ 10,096,724 $ (18,320,064) $ (359,781) $ 360,158
Comprehensive income:                
Net income (loss) 256,168       257,957     (1,789)
Other comprehensive income (loss) 50,092           50,145 (53)
Total comprehensive income 306,260              
Net change in noncontrolling interests (129,728)   (156,107)         26,379
Adjustment to members’ interest from change in ownership in Welltower OP 0   (31,806)         31,806
Redemption of OP Units and DownREIT Units 0 554 68,190         (68,744)
Amounts related to stock incentive plans, net of forfeitures 11,434 128 16,637 (5,331)        
Net proceeds from issuance of common stock 2,231,225 14,404 2,117,486 99,335        
Common stock dividends paid (431,041)         (431,041)    
Balances at end of period at Mar. 31, 2025 34,304,516 652,088 42,030,903 (20,172) 10,354,681 (18,751,105) (309,636) 347,757
Comprehensive income:                
Net income (loss) 302,649       301,888     761
Other comprehensive income (loss) 144,204           143,622 582
Total comprehensive income 446,853              
Net change in noncontrolling interests (21,830)   (34,344)         12,514
Adjustment to members’ interest from change in ownership in Welltower OP 0   (6,932)         6,932
Redemption of OP Units and DownREIT Units (17,531) 3 (11,576)         (5,958)
Amounts related to stock incentive plans, net of forfeitures 16,449 (65) 10,286 6,228        
Net proceeds from issuance of common stock 1,974,005 13,212 1,960,793          
Common stock dividends paid (439,348)         (439,348)    
Balances at end of period at Jun. 30, 2025 36,263,114 665,238 43,949,130 (13,944) 10,656,569 (19,190,453) (166,014) 362,588
Balances at beginning of period at Dec. 31, 2025 42,939,716 [1] 696,621 50,898,707 (14,405) 11,033,569 (20,197,353) (287,641) 810,218
Comprehensive income:                
Net income (loss) 739,889       728,672     11,217
Other comprehensive income (loss) (56,320)           (54,825) (1,495)
Total comprehensive income 683,569              
Net change in noncontrolling interests 72,105   (55,521)         127,626
Adjustment to members’ interest from change in ownership in Welltower OP 0   (53,208)         53,208
Redemption of OP Units and DownREIT Units 0 396 61,194         (61,590)
Amounts related to stock incentive plans, net of forfeitures 14,029 156 22,321 (8,448)        
Net proceeds from issuance of common stock 1,543,787 7,687 1,536,100          
Common stock dividends paid (520,347)         (520,347)    
Balances at end of period at Mar. 31, 2026 44,732,859 704,860 52,409,593 (22,853) 11,762,241 (20,717,700) (342,466) 939,184
Comprehensive income:                
Net income (loss) 454,829       445,002     9,827
Other comprehensive income (loss) (81,250)           (79,180) (2,070)
Total comprehensive income 373,579              
Net change in noncontrolling interests 105,110   (1,958)         107,068
Adjustment to members’ interest from change in ownership in Welltower OP 0   26,977         (26,977)
Redemption of OP Units and DownREIT Units 0 35 2,311         (2,346)
Amounts related to stock incentive plans, net of forfeitures 13,400 14 16,494 (3,108)        
Net proceeds from issuance of common stock 2,965,354 14,159 2,951,195          
Equity component of exchangeable debt (224,245)   (224,245)          
Common stock dividends paid (527,023)         (527,023)    
Balances at end of period at Jun. 30, 2026 $ 47,439,034 $ 719,068 $ 55,180,367 $ (25,961) $ 12,207,243 $ (21,244,723) $ (421,646) $ 1,024,686
[1] The consolidated balance sheet at December 31, 2025 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements.