Tobam Sells 7,711 Shares of Welltower Inc. (NYSE:WELL)

Tobam reduced its stake in Welltower Inc. (NYSE:WELL) by 88.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,025 shares of the real estate investment trust’s stock after selling 7,711 shares during the period. Tobam’s holdings in Welltower were worth $107,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in Welltower in the fourth quarter valued at approximately $2,453,039,000. Capital International Investors grew its holdings in shares of Welltower by 26.4% in the 1st quarter. Capital International Investors now owns 29,236,326 shares of the real estate investment trust’s stock valued at $2,731,842,000 after buying an additional 6,104,064 shares during the period. Vanguard Group Inc. increased its position in shares of Welltower by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 85,930,671 shares of the real estate investment trust’s stock valued at $7,748,369,000 after buying an additional 5,173,079 shares in the last quarter. Zimmer Partners LP acquired a new stake in Welltower during the 1st quarter worth $309,917,000. Finally, Centersquare Investment Management LLC lifted its holdings in Welltower by 19.0% during the first quarter. Centersquare Investment Management LLC now owns 5,329,248 shares of the real estate investment trust’s stock worth $507,771,000 after acquiring an additional 849,898 shares in the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WELL. Wedbush increased their price target on Welltower from $100.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Wells Fargo & Company increased their target price on Welltower from $107.00 to $111.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Welltower from $115.00 to $137.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Royal Bank of Canada increased their price objective on shares of Welltower from $101.00 to $114.00 and gave the stock a “sector perform” rating in a research report on Friday, August 9th. Finally, StockNews.com raised shares of Welltower from a “sell” rating to a “hold” rating in a research report on Saturday, August 3rd. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $109.58.

Insider Transactions at Welltower

In related news, Director Kenneth J. Bacon sold 1,800 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $103.91, for a total value of $187,038.00. Following the completion of the sale, the director now directly owns 14,579 shares in the company, valued at approximately $1,514,903.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.12% of the stock is owned by company insiders.

Welltower Price Performance

NYSE:WELL opened at $120.68 on Friday. The stock’s 50-day simple moving average is $110.55 and its 200 day simple moving average is $100.85. Welltower Inc. has a 52-week low of $78.38 and a 52-week high of $121.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.83 and a current ratio of 4.07. The company has a market cap of $72.16 billion, a P/E ratio of 148.99, a P/E/G ratio of 2.74 and a beta of 1.18.

Welltower (NYSE:WELL) last posted its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.08. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.89 billion. Welltower had a return on equity of 2.21% and a net margin of 8.36%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 EPS. As a group, sell-side analysts forecast that Welltower Inc. will post 4.16 EPS for the current fiscal year.

Welltower Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Monday, August 12th were given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Monday, August 12th. This is an increase from Welltower’s previous quarterly dividend of $0.61. Welltower’s dividend payout ratio (DPR) is 330.86%.

About Welltower

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.