Manchester Capital Management LLC purchased a new stake in Welltower Inc (NYSE:WELL) during the 2nd quarter, Holdings Channel reports. The fund purchased 1,000 shares of the real estate investment trust’s stock, valued at approximately $82,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Citizens Financial Group Inc RI purchased a new position in shares of Welltower during the first quarter valued at approximately $30,000. Heritage Wealth Advisors raised its stake in Welltower by 464.6% during the first quarter. Heritage Wealth Advisors now owns 446 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 367 shares during the period. Gradient Investments LLC raised its stake in Welltower by 590.3% during the second quarter. Gradient Investments LLC now owns 497 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 425 shares during the period. Trustcore Financial Services LLC raised its stake in Welltower by 674.3% during the first quarter. Trustcore Financial Services LLC now owns 542 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 472 shares during the period. Finally, Advisory Alpha LLC purchased a new position in Welltower during the first quarter worth approximately $45,000. 87.63% of the stock is currently owned by institutional investors.
WELL has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price target on shares of Welltower from $78.00 to $87.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Morgan Stanley increased their price target on shares of Welltower from $83.00 to $91.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. BMO Capital Markets reaffirmed a “buy” rating and set a $86.00 price target on shares of Welltower in a research note on Monday, August 5th. Raymond James downgraded shares of Welltower from an “outperform” rating to a “market perform” rating and set a $82.27 price target on the stock. in a research note on Thursday, June 13th. They noted that the move was a valuation call. Finally, Scotiabank set a $80.00 price target on shares of Welltower and gave the stock a “hold” rating in a research note on Friday, June 14th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $79.84.
Welltower (NYSE:WELL) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.70). Welltower had a return on equity of 4.62% and a net margin of 11.98%. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the company earned $1.00 EPS. Welltower’s revenue was up 17.2% on a year-over-year basis. On average, sell-side analysts anticipate that Welltower Inc will post 4.16 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th will be given a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Wednesday, August 14th. Welltower’s payout ratio is currently 86.35%.
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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