Stephens assumed coverage on shares of Welltower Inc. (NYSE:HCN) in a research report report published on Wednesday. The firm issued an overweight rating and a $86.00 price target on the real estate investment trust’s stock.
Several other research analysts have also issued reports on the stock. Morgan Stanley lowered shares of Welltower from an overweight rating to an equal weight rating and set a $69.00 target price for the company. in a research report on Wednesday, June 22nd. JPMorgan Chase & Co. restated a hold rating and set a $72.00 price target on shares of Welltower in a research report on Thursday, June 30th. Canaccord Genuity restated a buy rating and set a $86.00 price target on shares of Welltower in a research report on Tuesday, September 13th. BTIG Research began coverage on shares of Welltower in a research report on Thursday, August 25th. They set a neutral rating for the company. Finally, RBC Capital Markets restated a sector perform rating and set a $77.00 price target (up from $72.00) on shares of Welltower in a research report on Thursday, August 4th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $72.25.
Shares of Welltower (NYSE:HCN) opened at 73.25 on Wednesday. Welltower has a 52 week low of $52.80 and a 52 week high of $80.19. The stock has a 50 day moving average price of $76.54 and a 200 day moving average price of $72.75. The firm has a market capitalization of $26.22 billion, a P/E ratio of 39.64 and a beta of 0.43.
Welltower (NYSE:HCN) last announced its earnings results on Tuesday, August 2nd. The real estate investment trust reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.01. Welltower had a net margin of 17.15% and a return on equity of 5.08%. The company earned $1.08 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the business earned $1.09 earnings per share. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. Analysts forecast that Welltower will post $4.58 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 22nd. Shareholders of record on Tuesday, August 9th were paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date of this dividend was Friday, August 5th. Welltower’s dividend payout ratio is 185.95%.
In other Welltower news, COO Jeffrey H. Miller sold 24,777 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $78.00, for a total transaction of $1,932,606.00. Following the completion of the transaction, the chief operating officer now owns 136,095 shares of the company’s stock, valued at $10,615,410. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Scott A. Estes sold 3,193 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $76.39, for a total transaction of $243,913.27. Following the transaction, the chief financial officer now directly owns 133,127 shares of the company’s stock, valued at approximately $10,169,571.53. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.
Several institutional investors have recently made changes to their positions in HCN. McQueen Ball & Associates Inc. boosted its stake in Welltower by 2.1% in the first quarter. McQueen Ball & Associates Inc. now owns 22,806 shares of the real estate investment trust’s stock worth $1,581,000 after buying an additional 460 shares during the last quarter. TNB Financial purchased a new stake in Welltower during the first quarter worth approximately $387,000. Manning & Napier Advisors LLC purchased a new stake in Welltower during the first quarter worth approximately $7,481,000. Muzinich & Co. Inc. purchased a new stake in Welltower during the first quarter worth approximately $514,000. Finally, Exxonmobil Investment Management Inc. TX boosted its stake in Welltower by 9.0% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 86,468 shares of the real estate investment trust’s stock worth $5,996,000 after buying an additional 7,149 shares during the last quarter. 88.02% of the stock is owned by institutional investors and hedge funds.
Welltower Company Profile
Welltower Inc, formerly Health Care REIT, Inc, is a provider of healthcare infrastructure. The Company operates through three segments: triple-net, which includes independent living facilities, independent supportive living facilities (Canada), continuing care retirement communities, assisted living facilities, care homes with and without nursing (United Kingdom), Alzheimer’s/dementia care facilities, long-term/post-acute care facilities and hospitals; seniors housing operating, which includes a range of facility types, including independent living facilities and independent supportive living facilities, assisted living facilities, care homes and Alzheimer’s/dementia care facilities, and outpatient medical, which includes outpatient medical buildings.
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