Welltower Inc. (HCN) Reaches New 52-Week High at $77.26
Welltower Inc. (NYSE:HCN)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $77.26 and last traded at $77.25, with a volume of 556,244 shares trading hands. The stock had previously closed at $76.50.
A number of equities analysts have issued reports on HCN shares. Evercore ISI lifted their price target on Welltower to $69.00 in a research note on Monday, March 21st. Royal Bank Of Canada downgraded Welltower from an “outperform” rating to a “sector perform” rating and set a $70.00 target price on the stock. in a research note on Friday, April 1st. Morgan Stanley restated a “buy” rating on shares of Welltower in a research note on Tuesday, April 19th. Citigroup Inc. boosted their target price on Welltower from $70.00 to $73.00 and gave the stock a “neutral” rating in a research note on Thursday, July 7th. Finally, Jefferies Group boosted their target price on Welltower to $61.00 and gave the stock a “hold” rating in a research note on Thursday, April 7th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $69.67.
The firm has a 50-day moving average of $73.70 and a 200-day moving average of $68.51. The stock has a market cap of $27.56 billion and a PE ratio of 35.12.
Welltower (NYSE:HCN) last posted its quarterly earnings results on Tuesday, May 3rd. The real estate investment trust reported $1.13 EPS for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.01. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the company earned $1.04 EPS. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. Equities analysts expect that Welltower Inc. will post $4.56 EPS for the current year.
In other news, CFO Scott A. Estes sold 14,790 shares of the stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $70.48, for a total transaction of $1,042,399.20. Following the sale, the chief financial officer now owns 144,724 shares in the company, valued at $10,200,147.52. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Scott A. Estes sold 3,193 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $76.39, for a total transaction of $243,913.27. Following the sale, the chief financial officer now owns 133,127 shares in the company, valued at approximately $10,169,571.53. The disclosure for this sale can be found here.
Other large investors have recently bought and sold shares of the company. GAM Holding AG boosted its stake in Welltower by 105.1% in the fourth quarter. GAM Holding AG now owns 17,663 shares of the real estate investment trust’s stock worth $1,202,000 after buying an additional 9,051 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Welltower during the fourth quarter valued at about $1,221,000. Brown Advisory Inc. boosted its stake in shares of Welltower by 2.7% in the fourth quarter. Brown Advisory Inc. now owns 18,458 shares of the real estate investment trust’s stock valued at $1,256,000 after buying an additional 491 shares in the last quarter. Eaton Vance Management boosted its stake in shares of Welltower by 24.5% in the fourth quarter. Eaton Vance Management now owns 19,070 shares of the real estate investment trust’s stock valued at $1,297,000 after buying an additional 3,754 shares in the last quarter. Finally, Liberty Mutual Group Asset Management Inc. bought a new stake in shares of Welltower during the fourth quarter valued at about $1,405,000.
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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