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
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

[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.