Bank of America Corp DE lowered its stake in Welltower Inc. (NYSE:WELL – Get Rating) by 28.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,793,565 shares of the real estate investment trust’s stock after selling 699,295 shares during the period. Bank of America Corp DE’s holdings in Welltower were worth $172,434,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of WELL. Parallel Advisors LLC boosted its holdings in Welltower by 5.7% in the first quarter. Parallel Advisors LLC now owns 2,063 shares of the real estate investment trust’s stock valued at $202,000 after acquiring an additional 111 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Welltower by 7.2% in the 1st quarter. National Bank of Canada FI now owns 1,676 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 112 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of Welltower by 2.6% during the 1st quarter. Exchange Traded Concepts LLC now owns 4,640 shares of the real estate investment trust’s stock valued at $446,000 after purchasing an additional 119 shares in the last quarter. Siemens Fonds Invest GmbH increased its position in shares of Welltower by 2.9% during the first quarter. Siemens Fonds Invest GmbH now owns 4,471 shares of the real estate investment trust’s stock valued at $430,000 after buying an additional 124 shares during the period. Finally, Cresset Asset Management LLC increased its position in shares of Welltower by 2.5% during the first quarter. Cresset Asset Management LLC now owns 5,044 shares of the real estate investment trust’s stock valued at $485,000 after buying an additional 125 shares during the period. Institutional investors own 97.68% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Welltower from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $94.00 to $89.00 in a research report on Wednesday, June 22nd. Sumitomo Mitsui Financial Group cut shares of Welltower from an “outperform” rating to a “neutral” rating and set a $84.00 price target on the stock. in a research report on Thursday, August 11th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Welltower from $100.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, September 16th. Morgan Stanley reiterated an “overweight” rating and set a $90.00 price target on shares of Welltower in a research report on Wednesday, August 31st. Finally, KeyCorp reduced their price target on shares of Welltower from $98.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, July 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $94.79.
Welltower Trading Down 0.8 %
Welltower (NYSE:WELL – Get Rating) last issued its earnings results on Tuesday, August 9th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.65). The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.42 billion. Welltower had a return on equity of 2.09% and a net margin of 7.20%. The company’s quarterly revenue was up 29.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.79 EPS. On average, equities research analysts expect that Welltower Inc. will post 3.42 EPS for the current fiscal year.
Welltower Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Tuesday, August 23rd were paid a $0.61 dividend. The ex-dividend date was Monday, August 22nd. This represents a $2.44 annualized dividend and a dividend yield of 3.54%. Welltower’s dividend payout ratio is presently 274.16%.
Welltower Company Profile
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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