PNC Financial Services Group Inc. Decreases Stake in Welltower Inc. (NYSE:WELL)

PNC Financial Services Group Inc. lessened its stake in shares of Welltower Inc. (NYSE:WELL) by 3.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 218,746 shares of the real estate investment trust’s stock after selling 7,788 shares during the period. PNC Financial Services Group Inc.’s holdings in Welltower were worth $19,724,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Bruce G. Allen Investments LLC purchased a new stake in Welltower in the fourth quarter valued at approximately $25,000. Headlands Technologies LLC boosted its holdings in shares of Welltower by 479.6% in the 3rd quarter. Headlands Technologies LLC now owns 313 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 259 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of Welltower in the third quarter worth $38,000. Salem Investment Counselors Inc. raised its holdings in shares of Welltower by 84.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 425 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 194 shares during the last quarter. Finally, Rational Advisors LLC acquired a new position in Welltower during the third quarter valued at $43,000. Institutional investors and hedge funds own 94.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. BNP Paribas initiated coverage on Welltower in a research report on Monday, March 18th. They set an “outperform” rating and a $104.00 price target on the stock. Deutsche Bank Aktiengesellschaft began coverage on Welltower in a research report on Tuesday, January 30th. They set a “buy” rating and a $115.00 price target for the company. StockNews.com upgraded Welltower from a “sell” rating to a “hold” rating in a research report on Wednesday. Mizuho lifted their target price on shares of Welltower from $98.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Finally, Scotiabank increased their price target on shares of Welltower from $96.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 16th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Welltower currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.93.

Welltower Stock Performance

NYSE WELL opened at $101.10 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.83 and a quick ratio of 3.83. The stock’s 50 day simple moving average is $93.99 and its 200-day simple moving average is $91.11. The company has a market cap of $60.45 billion, a PE ratio of 124.81, a price-to-earnings-growth ratio of 2.65 and a beta of 1.07. Welltower Inc. has a 1-year low of $72.47 and a 1-year high of $102.15.

Welltower (NYSE:WELL) last issued its earnings results on Monday, April 29th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.72). Welltower had a return on equity of 1.77% and a net margin of 6.37%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same period last year, the business earned $0.85 earnings per share. The firm’s revenue was up 19.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Welltower Inc. will post 4.11 EPS for the current fiscal year.

Welltower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, May 13th will be given a $0.61 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $2.44 dividend on an annualized basis and a yield of 2.41%. Welltower’s dividend payout ratio is currently 301.23%.

Welltower Company Profile

Welltower Inc (NYSE:WELL), a REIT and S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. Welltower invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate and infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health care experience.