• Welltower average price/book ratio for 2023 was 1.84, a 0.55% increase from 2022.
• Welltower average price/book ratio for 2022 was 1.83, a 5.18% increase from 2021.
• Welltower average price/book ratio for 2021 was 1.93, a 54.4% decline from 2020.

Price/book ratio can be defined as