Shankh Mitra

Welltower is the largest owner of senior housing communities in the world. The senior housing sector is poised for what the industry calls the "silver tsunami" — the baby boomer generation (born 1946-1964) is entering the 80+ age cohort, which has the highest utilization rates for senior housing. Meanwhile, new senior housing construction has slowed dramatically, creating a supply-demand imbalance that favors existing operators. Occupancy rates have been recovering strongly from pandemic lows. Mitra has been an active acquirer, deploying billions in senior housing acquisitions at attractive prices during the post-pandemic recovery period. Key stock drivers include senior housing occupancy rates and rent growth, operating expense management (labor is the largest cost), new senior housing supply trends, demographic tailwinds from aging baby boomers, medical office occupancy and rent growth, interest rate impact on REIT valuations, acquisition pipeline and capital deployment, and the overall trajectory of senior housing demand versus supply.