Welltower Inc. (NYSE:WELL) Q1 2024 Earnings Call Transcript

So all of these things come into play. We are always looking over our shareholder. You can see how we are managing our balance sheet. Prologis is a terrific company. It will continue to be a terrific company regardless whether the stock is down in a given year or not. They’ve created a massive amount of value over the years. Stock goes up and down. That’s not as managed as we control. Our responsibility is to manage the business and look for opportunities to create long-term value. Short-term, who cares.

Operator: And your next question comes from the line of Wes Golladay of Baird. Your line is open.

Wes Golladay: Hey, good morning to everyone. For that $19 billion opportunity over the next 2 years, is that a domestic opportunity only? And can you highlight what you’re seeing in the U.K. and Canada?

Shankh Mitra: Yes, that is a domestic number we are talking about. We are seeing similar situations in our international markets. And one of them where particularly debt market is challenged is U.K. and we are seeing significant opportunities in the U.K. And I think I mentioned that. And I think you will see us many granular transactions in U.K. this year to take advantage of that. Lack of credit, real estate — health care real estate credit in U.K. If it is possible to be worse than the U.S., which is very hard today, it’s probably U.K. market, debt market is worse than that of U.K. today. I mean U.K. debt market is worse than that of U.S. today.

Operator: Thank you. With no further questions, that concludes today’s Q&A session. We thank you for your attendance. This concludes today’s conference call. You may now disconnect.