Welltower Inc. (HCN) Shares Down 2%
Welltower Inc. (NYSE:HCN)’s share price dropped 2% during trading on Thursday . The stock traded as low as $74.28 and last traded at $74.85, with a volume of 1,225,873 shares changing hands. The stock had previously closed at $76.39.
HCN has been the topic of several research analyst reports. Morgan Stanley downgraded Welltower from an “overweight” rating to an “equal weight” rating and set a $69.00 price objective on the stock. in a research report on Wednesday, June 22nd. Zacks Investment Research downgraded Welltower from a “hold” rating to a “sell” rating in a research report on Wednesday, April 20th. JPMorgan Chase & Co. reissued a “hold” rating and set a $72.00 price target on shares of Welltower in a research report on Thursday, June 30th. Jefferies Group increased their price target on Welltower to $61.00 and gave the stock a “hold” rating in a research report on Thursday, April 7th. Finally, Royal Bank Of Canada downgraded Welltower from an “outperform” rating to a “sector perform” rating and set a $70.00 price target on the stock. in a research report on Friday, April 1st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $70.06.
The company’s 50 day moving average price is $72.32 and its 200-day moving average price is $68.11. The firm has a market capitalization of $27.00 billion and a P/E ratio of 34.40.
Welltower (NYSE:HCN) last issued its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.01. During the same period in the previous year, the firm posted $1.04 earnings per share. The firm earned $1.05 billion during the quarter, compared to analyst estimates of $1.02 billion. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. On average, equities analysts predict that Welltower Inc. will post $4.56 EPS for the current year.
In other news, EVP Erin C. Ibele sold 1,955 shares of Welltower stock in a transaction on Friday, June 17th. The stock was sold at an average price of $73.74, for a total value of $144,161.70. Following the completion of the sale, the executive vice president now directly owns 63,256 shares of the company’s stock, valued at $4,664,497.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott A. Estes sold 14,790 shares of Welltower stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $70.48, for a total value of $1,042,399.20. Following the completion of the sale, the chief financial officer now directly owns 144,724 shares of the company’s stock, valued at $10,200,147.52. The disclosure for this sale can be found here.
Several large investors have recently modified their holdings of HCN. Vanguard Group Inc. boosted its stake in shares of Welltower by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 51,744,997 shares of the real estate investment trust’s stock worth $3,520,211,000 after buying an additional 1,681,591 shares during the last quarter. Schroder Investment Management Group purchased a new stake in shares of Welltower during the fourth quarter worth $60,828,000. Mizuho Trust & Banking Co. Ltd. boosted its stake in shares of Welltower by 51.6% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 608,269 shares of the real estate investment trust’s stock worth $41,557,000 after buying an additional 206,937 shares during the last quarter. Andra AP fonden boosted its stake in shares of Welltower by 145.9% in the fourth quarter. Andra AP fonden now owns 243,700 shares of the real estate investment trust’s stock worth $16,579,000 after buying an additional 144,600 shares during the last quarter. Finally, Comerica Bank purchased a new stake in shares of Welltower during the fourth quarter worth $7,339,000.
Welltower Inc, formerly Health Care REIT, Inc, is a provider of healthcare infrastructure. The Company operates through three segments: triple-net, which includes independent living facilities, independent supportive living facilities (Canada), continuing care retirement communities, assisted living facilities, care homes with and without nursing (United Kingdom), Alzheimer’s/dementia care facilities, long-term/post-acute care facilities and hospitals; seniors housing operating, which includes a range of facility types, including independent living facilities and independent supportive living facilities, assisted living facilities, care homes and Alzheimer’s/dementia care facilities, and outpatient medical, which includes outpatient medical buildings.
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