Austin Wurschmidt

was there any specific pickup in demand into April that drove the acceleration in lease rate growth

are share buybacks or paired trades from the established regions into your expansion regions more attractive today

do you have capital lined up to fund that today

which markets really dragged on that specifically?

I just curious if you guys, Matt, maybe if you've seen any pickup in the transaction market

Just curious what the take rate has been from the asking versus achieved

the types of deals that you're looking at? Are these development deals that are in lease-up, are they mostly stabilized transactions?

would you expect that to just carry into the early part of next year and into the spring leasing season

how good do you think rent growth could be in the coming years? And is there a period of time that historically that this reminds you of?

what's kind of the right exposure for those top markets? You know, are there any new markets that you could enter

Can you just walk through some of the components that's driving that between commencements and known move-outs? And does the team have any visibility into any known move-outs in 2027 at this point?

can you characterize the type of tenants looking for space?

is that specifically from the expirations that occurred in the fourth quarter of last year and tenants that didn't renew?

can you just give a little bit more detail around the average size of tenants in the pipeline for lab

how should we think about the near-term earnings impact from recycling the outpatient medical proceeds from the strategic initiatives

how much of these issues that you saw this quarter, the credit issues at hand, do you view is backward looking

I'm just focusing on that new leasing within lab, the 503,000 square feet, I think you said 85% was renewal activity, which implies about 75,000 square feet of new leasing

how many of the parties that you're speaking with are in need of a solution in the near-term and could be price takers

can you just provide an update about the health of the tenant base and more specifically the watch list and whether there's any signs of credit concerns

pretty attractive mark-to-market this quarter. But it looks like some of the TIs and LC's were up relative to prior quarters

Just want to go back to the same store and maybe just understand a little bit of what's driving you from that 5 plus percent range growth in the fourth quarter, down to the mid 3% range

last quarter, I think you indicated maybe it was L.A. specifically that conditions were stabilizing and maybe we're seeing sort of some early signs of rent growth improving. What's sort of the late...

Could you guys speak to affordability within Northern California? And just given kind of the optimism that you highlighted around job trends and supply conditions, I guess, what the runway looks like

Are you guys seeing conditions, I guess, broadly in your submarkets stabilize and rent growth may be approaching an inflection or was this more of a strategic approach on your part to build occupan...

does that speak a little bit to the negative 2.4% new lease rate growth in the fourth quarter and maybe what was the driver of that?

do you think that the region can sustain that level of growth in 2026? Or was there any specific phenomenon like back to office, that may provide a little bit of an incremental lift that maybe is l...

Was Southern California lower than projected? Or was it Seattle? I think as you mentioned in the prepared remarks that drove maybe pricing being a little bit softer than you had -- had you thought ...

Do you think you can continue to achieve that low to mid-4% level moving forward? Or is some of the pressure you're seeing in Southern California could lead for that renewal piece to moderate?

I'm interested in how much of that benefit in 2Q to new lease rate growth is seasonal related and typically reverses in the back half of the year? And then I guess for that all lease metric, what d...

I'm just curious, I know it's still early, but how are kind of the respective regions or markets tracking

Should that be sort of an indication of how market rents are tracking maybe relative to your initial expectation?

what's kind of driving that sequential decrease in core FFO? I'm just wondering if there are any items to highlight there

should we expect kind of another year of a gradual ramp into the peak leasing season and then kind of the shoulder periods being a little softer

last year that seasonal ramp seemed to peak a bit early. Based on leading indicators you are seeing and maybe what is assumed in guidance, do you expect things will drop off similarly, or was last ...

What would it take for you to really ramp up the buyback even further given that meaningful value that you referenced you see in shares today

if there's anything that suggests the momentum you've seen year-to-date could be moderating into the peak leasing season or if the runway looks clear as far out as you're able to see

how meaningful and growth-enhancing do you think some of these projects that you're pursuing and kind of, you know, adding outside the SFR box

were you surprised though at the pace of improvement in new lease rate growth versus the fourth quarter? And are you seeing that pace improve or accelerate, I guess, into the second quarter?

just wondering if the pace of improvement in new lease rate growth from the fourth quarter into January, February and any future visibility you have into future months, how does that compare versus...

was this just as simple as less competition from supply? Was there a comp issue?

should we just continue to see lease rate growth improve versus the prior year? Or I guess, asked a little bit differently, should schedule rent continue to accelerate from here into 2026?

Tim, you mentioned that July trends are trending better than the second quarter. I was hoping you could expand a little bit on that comment and whether that's new lease rate growth that's driving i...

how much of the changes to your 2025 lease rate growth assumption reflect kind of what's happened in the first half of the year versus how much was a function of changing sort of the second half pr...

Is it fair to assume that you you do face easier comps in the back half of the year you could see concession pricing begin to abate more quickly

was hoping you could provide some additional details to what is driving that softening and if you think it is something temporary

how does the 1.5% to 2% lease rate growth assumption break out between Sunbelt versus coastal markets

whether you think that the softening is a temporary phenomenon and seasonal or if you think these trends could continue to persist into 2026

can you just add some more detail as to why you decided to dial back renewals

can you just talk a little bit about the comps that you have in the back half of the year and whether those start to ease

which markets you're seeing the most acceleration month-to-month. And just curious if you've seen any of the markets, I guess, hit a speed bump

anything you're doing from an operating strategy perspective to maybe derisk the back half of the year in any way you can?

I'm just kind of interested in your view about a potential privatization of Fannie Mae and Freddie and just the impact you think it could have

when do you think you could start to see that incremental margin improve into the 60% to 70% range or better

How much of that occupancy guidance increase was specific to 1Q versus flowing through a better outcome

should we be expecting any change to the composition of cash versus noncash comp moving forward

have you seen any increase in move-outs as a result of the higher increase this year

Can you just give us what the biggest drivers of that improvement is? Because clearly, you alluded to occupancy being lower

what do you attribute to the reacceleration in RevPOR growth on a leap year adjusted basic basis, is it more mix related

you started last year, 250 basis points of occupancy gains assumed in shop revenue guidance. Clearly exceeded that, and this year, you're starting at 270 bps of upside

Are you assuming any headwind or benefit FFO from transitioning those assets to shop from triple net in the back half of this year

are street rate increases exceeding increases on in-place customers within this subset of assets

how should we think of the balance between RevPAR growth and occupancy growth in the setup going into 2026 versus where you were a year ago?

what percent of the SHO NOI the 3 operators under RIDEA 6.0 represent?

what part are you doing strategically to develop the moat you talk a lot about should help Welltower Inc. withstand any future pickup

how do you think senior housing performs based on what you outlined?

should we take all that detail to point to a reacceleration in RevPAR growth in 2026?