Azimuth Capital Management LLC reduced its holdings in shares of Welltower Inc (NYSE:WELL) by 7.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,365 shares of the real estate investment trust’s stock after selling 4,430 shares during the quarter. Azimuth Capital Management LLC’s holdings in Welltower were worth $3,986,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Orrstown Financial Services Inc. acquired a new position in shares of Welltower during the first quarter valued at about $25,000. Clarfeld Financial Advisors LLC acquired a new position in shares of Welltower during the fourth quarter valued at about $27,000. Ellis Investment Partners LLC acquired a new position in shares of Welltower during the first quarter valued at about $27,000. JNBA Financial Advisors acquired a new position in shares of Welltower during the fourth quarter valued at about $28,000. Finally, Citizens Financial Group Inc RI acquired a new position in shares of Welltower during the first quarter valued at about $30,000. Hedge funds and other institutional investors own 86.96% of the company’s stock.
In other Welltower news, CEO Thomas J. Derosa sold 19,307 shares of Welltower stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $77.90, for a total value of $1,504,015.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.15% of the company’s stock.
WELL stock traded down $2.23 during mid-day trading on Wednesday, hitting $81.07. The company had a trading volume of 2,657,233 shares, compared to its average volume of 2,158,441. The stock has a market cap of $34.04 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 4.13 and a beta of 0.30. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.84 and a current ratio of 1.84. Welltower Inc has a 12 month low of $59.25 and a 12 month high of $85.26. The firm’s fifty day moving average is $80.96.
Welltower (NYSE:WELL) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.02 EPS for the quarter, hitting the consensus estimate of $1.02. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.24 billion. Welltower had a net margin of 13.06% and a return on equity of 4.97%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.99 earnings per share. As a group, sell-side analysts forecast that Welltower Inc will post 4.2 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were given a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend was Monday, May 13th. Welltower’s dividend payout ratio is 86.35%.
A number of brokerages have recently issued reports on WELL. Scotiabank set a $80.00 price objective on shares of Welltower and gave the company a “hold” rating in a report on Friday, June 14th. Raymond James cut shares of Welltower from an “outperform” rating to a “market perform” rating and set a $82.27 price objective for the company. in a report on Thursday, June 13th. They noted that the move was a valuation call. Deutsche Bank lifted their price objective on shares of Welltower from $61.00 to $71.00 and gave the company a “hold” rating in a report on Friday, March 29th. Morgan Stanley lifted their price objective on shares of Welltower from $77.00 to $83.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Finally, BMO Capital Markets raised shares of Welltower from a “market perform” rating to an “outperform” rating and raised their price target for the company from $73.00 to $86.00 in a research report on Tuesday, May 7th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Welltower has a consensus rating of “Buy” and a consensus price target of $74.02.
Welltower Company Profile
Welltower Inc (NYSE:WELL), an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. The Company 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.
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