Subtext

Welltower Inc. WELL

SectorReal Estate
Transcripts65
Date range2009-05-05 – 2025-04-29
Calls charted65

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-17-8+0+8+172009 Q12011 Q22013 Q32015 Q42018 Q12020 Q22022 Q32024 Q42009 Q1 · Overall: +3.72009 Q2 · Overall: +9.82009 Q3 · Overall: +5.12009 Q4 · Overall: +10.12010 Q1 · Overall: +7.22010 Q2 · Overall: +11.92010 Q3 · Overall: +7.82010 Q4 · Overall: +6.42011 Q1 · Overall: +8.62011 Q2 · Overall: +14.62011 Q3 · Overall: +10.12011 Q4 · Overall: +9.82012 Q1 · Overall: +0.82012 Q2 · Overall: +2.42012 Q3 · Overall: +9.52012 Q4 · Overall: +11.02013 Q1 · Overall: +11.32013 Q2 · Overall: +9.92013 Q3 · Overall: +10.02013 Q4 · Overall: +2.72014 Q1 · Overall: +11.82014 Q2 · Overall: +10.72014 Q3 · Overall: +13.52014 Q4 · Overall: +10.52015 Q1 · Overall: +11.72015 Q2 · Overall: +5.02015 Q3 · Overall: +1.62015 Q4 · Overall: +5.22016 Q1 · Overall: +4.62016 Q2 · Overall: +9.92016 Q3 · Overall: +8.12016 Q4 · Overall: +10.72017 Q1 · Overall: +8.82017 Q2 · Overall: +10.42017 Q3 · Overall: +8.92017 Q4 · Overall: +5.22018 Q1 · Overall: -0.62018 Q2 · Overall: +4.42018 Q3 · Overall: +7.82018 Q4 · Overall: +6.32019 Q1 · Overall: +5.32019 Q2 · Overall: +10.12019 Q3 · Overall: +8.32019 Q4 · Overall: +8.52020 Q1 · Overall: +0.12020 Q2 · Overall: +0.52020 Q3 · Overall: +1.32020 Q4 · Overall: +2.82021 Q1 · Overall: +5.02021 Q2 · Overall: +10.62021 Q3 · Overall: +4.62021 Q4 · Overall: +5.82022 Q1 · Overall: +5.02022 Q2 · Overall: +2.22022 Q3 · Overall: +11.02022 Q4 · Overall: +13.62023 Q1 · Overall: +11.52023 Q2 · Overall: +10.42023 Q3 · Overall: +11.82023 Q4 · Overall: +9.02024 Q1 · Overall: +2.92024 Q2 · Overall: +10.12024 Q3 · Overall: +8.42024 Q4 · Overall: +9.62025 Q1 · Overall: +8.3
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-55-27+0+27+552009 Q12011 Q22013 Q32015 Q42018 Q12020 Q22022 Q32024 Q42009 Q1 · CEO: +9.52009 Q2 · CEO: +14.82009 Q3 · CEO: +9.62009 Q4 · CEO: +16.22010 Q1 · CEO: +18.12010 Q2 · CEO: +23.12010 Q3 · CEO: +37.62010 Q4 · CEO: +19.82011 Q1 · CEO: +23.02011 Q2 · CEO: +28.52011 Q3 · CEO: +19.32011 Q4 · CEO: +20.32012 Q1 · CEO: +22.12012 Q2 · CEO: +22.42012 Q3 · CEO: +14.32012 Q4 · CEO: +21.92013 Q1 · CEO: +19.62013 Q2 · CEO: +27.42013 Q3 · CEO: +14.72013 Q4 · CEO: +20.62014 Q1 · CEO: +23.32014 Q2 · CEO: +14.82014 Q3 · CEO: +28.32014 Q4 · CEO: +17.52015 Q1 · CEO: +11.92015 Q2 · CEO: +7.92015 Q3 · CEO: +8.32015 Q4 · CEO: +10.72016 Q1 · CEO: +4.22016 Q2 · CEO: +14.52016 Q3 · CEO: +13.72016 Q4 · CEO: +13.42017 Q1 · CEO: +6.02017 Q2 · CEO: +6.92017 Q3 · CEO: +12.82017 Q4 · CEO: +4.52018 Q1 · CEO: +47.62018 Q2 · CEO: +5.02018 Q3 · CEO: +5.02018 Q4 · CEO: +7.82019 Q1 · CEO: +8.32019 Q2 · CEO: +15.72019 Q4 · CEO: +16.42009 Q1 · CFO: +8.32009 Q2 · CFO: +6.92009 Q3 · CFO: +5.22009 Q4 · CFO: +12.02010 Q1 · CFO: +7.52010 Q2 · CFO: +13.92010 Q3 · CFO: -2.32010 Q4 · CFO: +11.32011 Q1 · CFO: +10.82011 Q2 · CFO: +13.72011 Q3 · CFO: +10.82011 Q4 · CFO: +14.02012 Q1 · CFO: -5.62012 Q2 · CFO: -6.02012 Q3 · CFO: +14.42012 Q4 · CFO: +9.72013 Q1 · CFO: +15.02013 Q2 · CFO: +13.32013 Q3 · CFO: +18.22013 Q4 · CFO: +8.02014 Q1 · CFO: +12.42014 Q2 · CFO: +18.22014 Q3 · CFO: +12.52014 Q4 · CFO: +14.72015 Q1 · CFO: +15.52015 Q2 · CFO: +7.32015 Q3 · CFO: +3.02015 Q4 · CFO: +7.02016 Q1 · CFO: +9.42016 Q2 · CFO: +12.42016 Q3 · CFO: +11.42016 Q4 · CFO: +17.12017 Q1 · CFO: +13.22017 Q2 · CFO: +13.82017 Q3 · CFO: +12.92017 Q4 · CFO: +8.72018 Q2 · CFO: +9.12018 Q3 · CFO: +8.32018 Q4 · CFO: +10.82019 Q1 · CFO: +6.52019 Q2 · CFO: +21.7
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-31-16+0+16+312009 Q12011 Q22013 Q32015 Q42018 Q12020 Q22022 Q32024 Q42009 Q1 · Prepared remarks: +12.02009 Q2 · Prepared remarks: +9.62009 Q3 · Prepared remarks: +12.62009 Q4 · Prepared remarks: +16.22010 Q1 · Prepared remarks: +14.42010 Q2 · Prepared remarks: +19.62010 Q3 · Prepared remarks: +7.92010 Q4 · Prepared remarks: +18.82011 Q1 · Prepared remarks: +19.12011 Q2 · Prepared remarks: +16.52011 Q3 · Prepared remarks: +23.92011 Q4 · Prepared remarks: +16.42012 Q1 · Prepared remarks: +1.12012 Q2 · Prepared remarks: -1.22012 Q3 · Prepared remarks: +14.42012 Q4 · Prepared remarks: +17.82013 Q1 · Prepared remarks: +23.22013 Q2 · Prepared remarks: +24.62013 Q3 · Prepared remarks: +16.52013 Q4 · Prepared remarks: +21.22014 Q1 · Prepared remarks: +24.02014 Q2 · Prepared remarks: +26.42014 Q3 · Prepared remarks: +22.32014 Q4 · Prepared remarks: +20.82015 Q1 · Prepared remarks: +16.12015 Q2 · Prepared remarks: +10.62015 Q3 · Prepared remarks: +11.82015 Q4 · Prepared remarks: +12.82016 Q1 · Prepared remarks: +11.82016 Q2 · Prepared remarks: +14.62016 Q3 · Prepared remarks: +14.92016 Q4 · Prepared remarks: +22.92017 Q1 · Prepared remarks: +11.32017 Q2 · Prepared remarks: +18.42017 Q3 · Prepared remarks: +27.02017 Q4 · Prepared remarks: +14.12018 Q1 · Prepared remarks: +11.22018 Q2 · Prepared remarks: +20.02018 Q3 · Prepared remarks: +23.52018 Q4 · Prepared remarks: +17.52019 Q1 · Prepared remarks: +15.12019 Q2 · Prepared remarks: +14.62019 Q3 · Prepared remarks: +18.02019 Q4 · Prepared remarks: +15.92020 Q1 · Prepared remarks: +1.42020 Q2 · Prepared remarks: +5.62020 Q3 · Prepared remarks: +3.62020 Q4 · Prepared remarks: +1.32021 Q1 · Prepared remarks: +13.92021 Q2 · Prepared remarks: +17.82021 Q3 · Prepared remarks: +8.62021 Q4 · Prepared remarks: +11.42022 Q1 · Prepared remarks: +12.42022 Q2 · Prepared remarks: +10.02022 Q3 · Prepared remarks: +10.32022 Q4 · Prepared remarks: +18.62023 Q1 · Prepared remarks: +21.02023 Q2 · Prepared remarks: +23.52023 Q3 · Prepared remarks: +20.72023 Q4 · Prepared remarks: +19.32024 Q1 · Prepared remarks: +17.32024 Q2 · Prepared remarks: +18.22024 Q3 · Prepared remarks: +20.02024 Q4 · Prepared remarks: +15.52025 Q1 · Prepared remarks: +18.32009 Q1 · Q&A responses: +6.12009 Q2 · Q&A responses: +16.12009 Q3 · Q&A responses: +5.52009 Q4 · Q&A responses: +8.72010 Q1 · Q&A responses: +5.22010 Q2 · Q&A responses: +9.22010 Q4 · Q&A responses: +11.02011 Q1 · Q&A responses: +7.22011 Q2 · Q&A responses: +21.32011 Q3 · Q&A responses: +6.52011 Q4 · Q&A responses: +9.62012 Q2 · Q&A responses: +12.42012 Q3 · Q&A responses: +11.72012 Q4 · Q&A responses: +13.42013 Q1 · Q&A responses: +10.12013 Q2 · Q&A responses: +5.52013 Q3 · Q&A responses: +11.02013 Q4 · Q&A responses: -0.22014 Q1 · Q&A responses: +9.92014 Q2 · Q&A responses: +9.72014 Q3 · Q&A responses: +9.92014 Q4 · Q&A responses: +12.12015 Q1 · Q&A responses: +11.82015 Q2 · Q&A responses: +6.12015 Q3 · Q&A responses: +0.62015 Q4 · Q&A responses: +5.02016 Q1 · Q&A responses: +5.62016 Q2 · Q&A responses: +12.22016 Q3 · Q&A responses: +9.12016 Q4 · Q&A responses: +9.82017 Q1 · Q&A responses: +11.12017 Q2 · Q&A responses: +7.52017 Q3 · Q&A responses: +5.72017 Q4 · Q&A responses: +4.32018 Q1 · Q&A responses: +2.42018 Q2 · Q&A responses: +2.72018 Q3 · Q&A responses: +3.22018 Q4 · Q&A responses: +2.92019 Q1 · Q&A responses: +5.72019 Q2 · Q&A responses: +11.32019 Q3 · Q&A responses: +8.62019 Q4 · Q&A responses: +7.42020 Q1 · Q&A responses: +2.32020 Q2 · Q&A responses: -0.82020 Q3 · Q&A responses: +3.72020 Q4 · Q&A responses: +5.42021 Q1 · Q&A responses: +2.32021 Q2 · Q&A responses: +7.72021 Q3 · Q&A responses: +3.82021 Q4 · Q&A responses: +4.52022 Q1 · Q&A responses: +3.72022 Q2 · Q&A responses: -0.62022 Q3 · Q&A responses: +17.42022 Q4 · Q&A responses: +11.92023 Q1 · Q&A responses: +7.92023 Q2 · Q&A responses: +5.12023 Q3 · Q&A responses: +6.12023 Q4 · Q&A responses: +1.62024 Q1 · Q&A responses: +1.12024 Q2 · Q&A responses: +5.02024 Q3 · Q&A responses: -0.62024 Q4 · Q&A responses: +4.82025 Q1 · Q&A responses: +4.1
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$0.51$1.44$2.372009 Q12011 Q22013 Q32015 Q42018 Q12020 Q22022 Q32024 Q42014 Q1: $0.742014 Q2: $1.032014 Q3: $1.232014 Q4: $1.552015 Q1: $1.802015 Q2: $2.032015 Q3: $2.142015 Q4: $2.022016 Q1: $1.982016 Q2: $2.082016 Q3: $2.122016 Q4: $2.022017 Q1: $1.802017 Q2: $2.012017 Q3: $1.982017 Q4: $1.862018 Q1: $1.702018 Q2: $2.132018 Q3: $1.952018 Q4: $1.602019 Q1: $2.242019 Q2: $2.042019 Q3: $2.102019 Q4: $1.872020 Q1: $1.522020 Q2: $0.972020 Q3: $1.052020 Q4: $0.642021 Q1: $0.712021 Q2: $0.792021 Q3: $0.992021 Q4: $1.012022 Q1: $1.022022 Q2: $1.122022 Q3: $1.132022 Q4: $0.852023 Q1: $0.832023 Q2: $0.822023 Q3: $0.962023 Q4: $1.202024 Q1: $1.362024 Q2: $1.512024 Q3: $1.70

Forward P/E

15.3362.89110.452009 Q12011 Q22013 Q32015 Q42018 Q12020 Q22022 Q32024 Q42014 Q1: 77.012014 Q2: 60.282014 Q3: 51.942014 Q4: 49.262015 Q1: 42.702015 Q2: 33.612015 Q3: 30.132015 Q4: 32.792016 Q1: 33.572016 Q2: 35.342016 Q3: 34.732016 Q4: 31.932017 Q1: 37.412017 Q2: 37.032017 Q3: 37.422017 Q4: 35.702018 Q1: 31.582018 Q2: 26.622018 Q3: 33.542018 Q4: 44.452019 Q1: 34.582019 Q2: 41.082019 Q3: 42.272019 Q4: 41.922020 Q1: 21.892020 Q2: 57.752020 Q3: 56.882020 Q4: 103.892021 Q1: 103.792021 Q2: 102.932021 Q3: 87.322021 Q4: 82.132022 Q1: 88.932022 Q2: 70.042022 Q3: 65.322022 Q4: 79.242023 Q1: 86.102023 Q2: 99.442023 Q3: 85.582023 Q4: 75.712024 Q1: 68.022024 Q2: 68.832024 Q3: 75.21

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2014 Q4 tone ↓ -3.0 fwd EPS ↑ +0.32 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q2 tone ↓ -6.7 fwd EPS ↑ +0.23 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q3 tone ↓ -3.4 fwd EPS ↑ +0.11 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q4 tone ↑ +3.6 fwd EPS ↓ -0.12 Tone rose while the forward EPS estimate was cut.
  • 2016 Q4 tone ↑ +2.6 fwd EPS ↓ -0.10 Tone rose while the forward EPS estimate was cut.
  • 2018 Q3 tone ↑ +3.4 fwd EPS ↓ -0.18 Tone rose while the forward EPS estimate was cut.
  • 2019 Q2 tone ↑ +4.9 fwd EPS ↓ -0.20 Tone rose while the forward EPS estimate was cut.
  • 2021 Q3 tone ↓ -6.0 fwd EPS ↑ +0.21 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q2 tone ↓ -2.7 fwd EPS ↑ +0.10 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q4 tone ↑ +2.6 fwd EPS ↓ -0.28 Tone rose while the forward EPS estimate was cut.
  • 2023 Q4 tone ↓ -2.7 fwd EPS ↑ +0.23 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q1 tone ↓ -6.2 fwd EPS ↑ +0.16 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-29+8.3——View →
2024 Q42025-02-12+9.6——View →
2024 Q32024-10-29+8.4$1.7075.2View →
2024 Q22024-07-30+10.1$1.5168.8View →
2024 Q12024-04-30+2.9$1.3668.0View →
2023 Q42024-02-14+9.0$1.2075.7View →
2023 Q32023-10-31+11.8$0.9685.6View →
2023 Q22023-08-01+10.4$0.8299.4View →