State of Michigan Retirement System Grows Stock Holdings in Welltower Inc. $WELL

State of Michigan Retirement System grew its holdings in shares of Welltower Inc. (NYSE:WELL) by 7.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 180,909 shares of the real estate investment trust’s stock after buying an additional 12,000 shares during the quarter. State of Michigan Retirement System’s holdings in Welltower were worth $32,227,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WELL. MMA Asset Management LLC bought a new stake in shares of Welltower in the 3rd quarter valued at approximately $35,000. Global Wealth Strategies & Associates purchased a new stake in Welltower during the 3rd quarter valued at $36,000. Newbridge Financial Services Group Inc. lifted its position in Welltower by 39.5% in the second quarter. Newbridge Financial Services Group Inc. now owns 307 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 87 shares during the last quarter. Copia Wealth Management purchased a new position in Welltower during the second quarter worth $51,000. Finally, NewSquare Capital LLC increased its position in Welltower by 30.2% during the second quarter. NewSquare Capital LLC now owns 362 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Welltower Stock Up 2.7%

Shares of NYSE WELL opened at $196.16 on Friday. Welltower Inc. has a 52-week low of $130.29 and a 52-week high of $209.05. The firm has a market capitalization of $134.63 billion, a price-to-earnings ratio of 135.28, a PEG ratio of 1.33 and a beta of 0.85. The stock has a 50 day moving average price of $189.33 and a 200 day moving average price of $179.97. The company has a debt-to-equity ratio of 0.43, a quick ratio of 5.47 and a current ratio of 5.47.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Scotiabank lifted their price target on shares of Welltower from $182.00 to $214.00 and gave the stock a “sector outperform” rating in a research note on Thursday, November 13th. National Bankshares set a $246.00 target price on Welltower in a research report on Friday, October 17th. Wall Street Zen upgraded Welltower from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Loop Capital set a $196.00 price objective on Welltower in a report on Wednesday, October 29th. Finally, Morgan Stanley upped their price objective on Welltower from $170.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th. One investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $204.80.

About Welltower

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.