Teachers Retirement System of The State of Kentucky reduced its position in shares of Welltower Inc. (NYSE:WELL – Get Rating) by 4.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,809 shares of the real estate investment trust’s stock after selling 1,297 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Welltower were worth $2,866,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Covestor Ltd raised its stake in shares of Welltower by 97.4% in the first quarter. Covestor Ltd now owns 298 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 147 shares in the last quarter. Disciplined Investments LLC acquired a new stake in Welltower in the first quarter valued at $37,000. Trustcore Financial Services LLC acquired a new stake in Welltower in the first quarter valued at $42,000. Annapolis Financial Services LLC acquired a new stake in Welltower in the first quarter valued at $48,000. Finally, Tcwp LLC acquired a new stake in Welltower in the first quarter valued at $70,000. 97.68% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on WELL. Evercore ISI set a $99.00 price target on Welltower in a research note on Monday, June 20th. Morgan Stanley reiterated an “overweight” rating and set a $90.00 target price on shares of Welltower in a research report on Wednesday, August 31st. Capital One Financial started coverage on Welltower in a research report on Friday, June 3rd. They set an “overweight” rating and a $95.00 target price on the stock. Mizuho cut their target price on Welltower from $96.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, July 1st. Finally, JPMorgan Chase & Co. upgraded Welltower from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $94.00 to $89.00 in a research report on Wednesday, June 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $94.79.
Welltower Price Performance
Welltower (NYSE:WELL – Get Rating) last announced its quarterly earnings data on Tuesday, August 9th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.65). Welltower had a net margin of 7.20% and a return on equity of 2.09%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the firm posted $0.79 EPS. Welltower’s revenue for the quarter was up 29.1% compared to the same quarter last year. Research analysts anticipate that Welltower Inc. will post 3.43 earnings per share for the current year.
Welltower Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Tuesday, August 23rd were paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 3.43%. The ex-dividend date was Monday, August 22nd. Welltower’s dividend payout ratio (DPR) is 274.16%.
Welltower Inc (NYSE:WELL), an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. The Company invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health care experience.
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