Cordasco Financial Network cut its stake in shares of Welltower Inc. (NYSE:HCN) by 21.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,051 shares of the real estate investment trust’s stock after selling 843 shares during the period. Cordasco Financial Network’s holdings in Welltower were worth $232,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HCN. Washington Trust Bank increased its position in Welltower by 11.1% in the second quarter. Washington Trust Bank now owns 1,498 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 150 shares in the last quarter. Nikko Asset Management Americas Inc. purchased a new position in Welltower during the first quarter valued at about $124,000. Pennsylvania Trust Co purchased a new position in Welltower during the second quarter valued at about $202,000. Kistler Tiffany Companies LLC increased its position in Welltower by 34.6% in the second quarter. Kistler Tiffany Companies LLC now owns 2,861 shares of the real estate investment trust’s stock valued at $218,000 after buying an additional 735 shares in the last quarter. Finally, Bremer Trust National Association purchased a new position in Welltower during the second quarter valued at about $226,000. 88.02% of the stock is owned by institutional investors.
Welltower Inc. (NYSE:HCN) traded up 0.08% during midday trading on Monday, reaching $73.25. The company had a trading volume of 2,751,049 shares. The company has a 50-day moving average of $76.54 and a 200-day moving average of $72.75. The stock has a market capitalization of $26.22 billion, a PE ratio of 39.64 and a beta of 0.43. Welltower Inc. has a 12-month low of $52.80 and a 12-month high of $80.19.
Welltower (NYSE:HCN) last announced its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $1.15 EPS for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.01. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Welltower had a return on equity of 5.08% and a net margin of 17.15%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. On average, analysts predict that Welltower Inc. will post $4.58 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 22nd. Shareholders of record on Tuesday, August 9th were paid a $0.86 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $3.44 dividend on an annualized basis and a yield of 4.70%. Welltower’s dividend payout ratio (DPR) is currently 185.95%.
Several research analysts have recently issued reports on the company. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Welltower in a research note on Sunday, September 4th. Royal Bank Of Canada upped their price objective on Welltower from $72.00 to $77.00 and gave the company a “sector perform” rating in a research note on Thursday, August 4th. Hilliard Lyons downgraded Welltower from a “neutral” rating to an “underperform” rating in a research note on Tuesday, August 2nd. Citigroup Inc. upped their price objective on Welltower from $70.00 to $73.00 and gave the company a “neutral” rating in a research note on Thursday, July 7th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and issued a $77.00 price objective (up previously from $72.00) on shares of Welltower in a research note on Thursday, August 4th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $72.25.
In other Welltower news, CFO Scott A. Estes sold 3,192 shares of Welltower stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $78.97, for a total value of $252,072.24. Following the transaction, the chief financial officer now directly owns 133,126 shares of the company’s stock, valued at approximately $10,512,960.22. 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 Welltower stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $76.39, for a total value of $243,913.27. Following the completion of the transaction, the chief financial officer now directly owns 133,127 shares in the company, valued at $10,169,571.53. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.
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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