Summit Global Investments Sells 18,399 Shares of Welltower Inc. $WELL

Summit Global Investments lowered its stake in shares of Welltower Inc. (NYSE:WELL) by 80.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,381 shares of the real estate investment trust’s stock after selling 18,399 shares during the quarter. Summit Global Investments’ holdings in Welltower were worth $780,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. State Street Corp raised its position in shares of Welltower by 4.6% during the second quarter. State Street Corp now owns 39,616,289 shares of the real estate investment trust’s stock valued at $6,090,212,000 after buying an additional 1,740,196 shares during the last quarter. Norges Bank bought a new position in Welltower during the second quarter valued at about $4,903,554,000. Geode Capital Management LLC increased its stake in Welltower by 5.1% during the second quarter. Geode Capital Management LLC now owns 15,012,454 shares of the real estate investment trust’s stock valued at $2,303,484,000 after acquiring an additional 723,887 shares during the period. JPMorgan Chase & Co. raised its holdings in Welltower by 1.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,898,391 shares of the real estate investment trust’s stock valued at $1,214,232,000 after acquiring an additional 149,724 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Welltower by 5.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,329,291 shares of the real estate investment trust’s stock worth $1,126,732,000 after acquiring an additional 372,697 shares during the period. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WELL has been the topic of a number of research reports. Scotiabank boosted their price objective on Welltower from $182.00 to $214.00 and gave the company a “sector outperform” rating in a research report on Thursday, November 13th. National Bankshares set a $246.00 price target on shares of Welltower in a research note on Friday, October 17th. Jefferies Financial Group restated a “buy” rating and issued a $231.00 price objective on shares of Welltower in a research note on Monday, December 15th. Wall Street Zen raised shares of Welltower from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Finally, Loop Capital set a $196.00 target price on shares of Welltower in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $204.80.

Welltower Stock Up 1.4%

WELL opened at $188.25 on Friday. The firm has a market cap of $129.20 billion, a price-to-earnings ratio of 129.82, a PEG ratio of 1.29 and a beta of 0.86. The company has a debt-to-equity ratio of 0.43, a quick ratio of 5.47 and a current ratio of 5.47. The firm’s 50-day simple moving average is $190.94 and its 200-day simple moving average is $179.04. Welltower Inc. has a twelve month low of $130.29 and a twelve month high of $209.05.

Welltower Company Profile

Welltower Inc (NYSE: WELL) is a real estate investment trust (REIT) that acquires and manages real estate serving the health care industry. The company specializes in healthcare infrastructure, owning and operating a diversified portfolio of senior housing, post-acute and long-term care communities, and outpatient medical properties. Welltower’s assets are designed to support the delivery of health care services through a combination of leased properties, joint ventures, and other capital arrangements with health care operators and providers.

The company’s property types include assisted living, memory care, independent living and skilled nursing facilities, as well as medical office buildings and other outpatient-care real estate such as ambulatory surgery centers and specialty clinics.