Welltower (NYSE:WELL) Reaches New 52-Week High After Analyst Upgrade

Welltower Inc. (NYSE:WELLGet Free Report) shares hit a new 52-week high on Friday after Wells Fargo & Company raised their price target on the stock from $107.00 to $111.00. Wells Fargo & Company currently has an overweight rating on the stock. Welltower traded as high as $103.00 and last traded at $102.18, with a volume of 106045 shares changing hands. The stock had previously closed at $102.15.

A number of other research firms also recently commented on WELL. BNP Paribas started coverage on shares of Welltower in a report on Monday, March 18th. They set an “outperform” rating and a $104.00 price objective on the stock. Scotiabank upped their price target on Welltower from $96.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 16th. Mizuho boosted their target price on Welltower from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, StockNews.com upgraded shares of Welltower from a “sell” rating to a “hold” rating in a research report on Wednesday, May 22nd. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $98.07.

View Our Latest Report on Welltower

Hedge Funds Weigh In On Welltower

A number of large investors have recently modified their holdings of WELL. Vanguard Group Inc. boosted its position in Welltower by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 89,187,884 shares of the real estate investment trust’s stock worth $8,333,716,000 after purchasing an additional 3,257,213 shares during the period. Capital International Investors boosted its position in shares of Welltower by 26.4% in the first quarter. Capital International Investors now owns 29,236,326 shares of the real estate investment trust’s stock worth $2,731,842,000 after buying an additional 6,104,064 shares during the period. Norges Bank acquired a new stake in shares of Welltower in the fourth quarter valued at about $2,453,039,000. Principal Financial Group Inc. raised its holdings in shares of Welltower by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 13,012,500 shares of the real estate investment trust’s stock valued at $1,173,337,000 after buying an additional 87,106 shares during the period. Finally, Invesco Ltd. lifted its position in Welltower by 22.9% during the 3rd quarter. Invesco Ltd. now owns 8,486,611 shares of the real estate investment trust’s stock worth $695,223,000 after acquiring an additional 1,581,084 shares in the last quarter. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Welltower Stock Performance

The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.83 and a current ratio of 3.83. The stock has a fifty day simple moving average of $95.42 and a two-hundred day simple moving average of $91.89. The stock has a market cap of $62.00 billion, a PE ratio of 128.01, a PEG ratio of 2.39 and a beta of 1.07.

Welltower (NYSE:WELLGet Free Report) last announced 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). The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Welltower had a return on equity of 1.77% and a net margin of 6.37%. The firm’s revenue was up 19.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 earnings per share. Equities analysts anticipate that Welltower Inc. will post 4.11 EPS for the current fiscal year.

Welltower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Monday, May 13th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $2.44 annualized dividend and a dividend yield of 2.35%. Welltower’s payout ratio is 301.23%.

About Welltower

(Get Free Report)

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.

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