Welltower Outlook by RBC Capital

Analysts at RBC Capital provided their outlook on Welltower Inc. (NYSE:WELL), following the company’s recently announced Q3 results, highlighting a strengthening investment pipeline offset by expected near-term SHOP headwinds. The analysts said they remain encouraged by the long-term SHOP outlook, and not only expect the space to deliver a solid recovery over the next 18 months but also deliver growth above and beyond pre-COVID levels in 2024 and 2025. The analysts are slightly lowering their FFO estimates to reflect their updated near-term SHOP outlook and reducing their price target on the company’s shares to $93 from $95.