Welltower (NYSE:WELL) Reaches New 12-Month High on Better-Than-Expected Earnings

Shares of Welltower Inc. (NYSE:WELL) reached a new 52-week high during trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $165.87 and last traded at $164.06, with a volume of 889392 shares trading hands. The stock had previously closed at $158.29.

The real estate investment trust reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. Welltower had a net margin of 12.18% and a return on equity of 3.38%. The firm had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the company posted $1.05 earnings per share. Welltower’s revenue was up 39.6% compared to the same quarter last year.

Welltower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Tuesday, August 12th will be given a $0.74 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This is a positive change from Welltower’s previous quarterly dividend of $0.67. This represents a $2.96 annualized dividend and a yield of 1.78%. Welltower’s dividend payout ratio (DPR) is 154.02%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Scotiabank reaffirmed an “outperform” rating on shares of Welltower in a research report on Monday, June 23rd. Wall Street Zen cut Welltower from a “hold” rating to a “sell” rating in a report on Thursday, May 8th. Wedbush reaffirmed an “underperform” rating on shares of Welltower in a research report on Thursday, April 17th. Morgan Stanley boosted their target price on shares of Welltower from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. Finally, Evercore ISI upped their target price on shares of Welltower from $162.00 to $175.00 and gave the company an “in-line” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $169.82.

Insider Transactions at Welltower

In related news, Director Andrew Gundlach acquired 20,000 shares of Welltower stock in a transaction on Monday, June 30th. The shares were purchased at an average cost of $151.46 per share, for a total transaction of $3,029,200.00. Following the purchase, the director directly owned 20,000 shares of the company’s stock, valued at $3,029,200. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Welltower

Several hedge funds and other institutional investors have recently modified their holdings of WELL. Capital International Investors lifted its stake in Welltower by 0.9% during the fourth quarter. Capital International Investors now owns 37,096,408 shares of the real estate investment trust’s stock worth $4,674,826,000 after purchasing an additional 318,496 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Welltower by 14.0% during the first quarter. Wellington Management Group LLP now owns 21,289,684 shares of the real estate investment trust’s stock worth $3,261,792,000 after purchasing an additional 2,614,562 shares during the period. Bank of America Corp DE lifted its position in shares of Welltower by 9.7% in the 4th quarter. Bank of America Corp DE now owns 18,706,788 shares of the real estate investment trust’s stock worth $2,357,617,000 after buying an additional 1,652,611 shares during the last quarter. FMR LLC boosted its holdings in shares of Welltower by 9.4% in the 4th quarter. FMR LLC now owns 15,782,795 shares of the real estate investment trust’s stock valued at $1,989,106,000 after buying an additional 1,354,231 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Welltower by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 13,558,841 shares of the real estate investment trust’s stock valued at $1,707,570,000 after buying an additional 644,494 shares during the last quarter. Institutional investors own 94.80% of the company’s stock.

Welltower Trading Up 0.2%

The firm has a market cap of $108.78 billion, a P/E ratio of 93.98, a P/E/G ratio of 1.90 and a beta of 0.92. The business’s 50-day moving average is $154.42 and its two-hundred day moving average is $148.50. The company has a current ratio of 4.19, a quick ratio of 4.23 and a debt-to-equity ratio of 0.48.

Welltower Company Profile

Welltower Inc (NYSE:WELL), a real estate investment trust (“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 infrastructure needed to scale innovative care delivery models and improve people’s wellness and overall health care experience.