Deutsche Bank lifted its price target on Welltower Inc. (NYSE: WELL) to $195 from $179 while reiterating a Buy rating, citing strong positioning for earnings growth.
The firm pointed to favorable demand-supply dynamics in senior housing, management’s operational focus, and a healthy pipeline of acquisitions supported by its balance sheet and $9.5 billion of healthcare leasing liquidity.
Revenue per occupied room growth continued to outpace expense growth, while occupancy gains offered visibility into sustained internal earnings expansion. Deutsche Bank also highlighted acquisition opportunities created by challenging capital markets, including assets in lease-up and stabilized portfolios across the U.S., U.K., and Canada.
Management raised its 2025 normalized FFO per share guidance to $5.06–$5.14, up from $4.90–$5.04, implying annual earnings growth of 18.1%. Deutsche Bank said it saw further upside as elevated acquisition activity and rising industry occupancy should drive momentum into 2026 and 2027.
