New York State Teachers Retirement System raised its stake in shares of Welltower Inc (NYSE:WELL) by 3.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 639,327 shares of the real estate investment trust’s stock after acquiring an additional 22,064 shares during the quarter. New York State Teachers Retirement System’s holdings in Welltower were worth $49,612,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in WELL. Waratah Capital Advisors Ltd. acquired a new stake in shares of Welltower in the 1st quarter worth $2,248,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Welltower in the 1st quarter worth $10,823,000. Heritage Wealth Advisors boosted its position in shares of Welltower by 464.6% in the 1st 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 in the last quarter. Moors & Cabot Inc. boosted its position in shares of Welltower by 4.8% in the 1st quarter. Moors & Cabot Inc. now owns 4,394 shares of the real estate investment trust’s stock worth $343,000 after purchasing an additional 203 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of Welltower by 64.6% in the 1st quarter. CIBC Asset Management Inc now owns 106,119 shares of the real estate investment trust’s stock worth $8,233,000 after purchasing an additional 41,631 shares in the last quarter. 84.94% of the stock is currently owned by institutional investors and hedge funds.
WELL has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on Welltower from $77.00 to $83.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Royal Bank of Canada raised their price objective on Welltower to $76.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 21st. Citigroup raised their price objective on Welltower from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, February 14th. Deutsche Bank raised their price objective on Welltower from $61.00 to $71.00 and gave the stock a “hold” rating in a research report on Friday, March 29th. Finally, Mitsubishi UFJ Financial Group raised their price objective on Welltower to $82.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 13th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $73.29.
In related news, EVP Mercedes Kerr sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $74.50, for a total value of $372,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas J. Derosa sold 19,307 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $77.90, for a total value of $1,504,015.30. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.
Shares of WELL stock opened at $79.48 on Friday. The firm has a market capitalization of $31.86 billion, a P/E ratio of 19.72, a PEG ratio of 3.31 and a beta of 0.43. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.79. Welltower Inc has a 1 year low of $53.53 and a 1 year high of $79.82.
Welltower (NYSE:WELL) last issued its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.02. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.24 billion. Welltower had a return on equity of 4.97% and a net margin of 13.06%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the business posted $0.99 EPS. Analysts forecast that Welltower Inc will post 4.2 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th will be paid a $0.87 dividend. The ex-dividend date is Monday, May 13th. This represents a $3.48 dividend on an annualized basis and a yield of 4.38%. Welltower’s dividend payout ratio (DPR) is 86.35%.
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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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