Shares of Welltower Inc. (NYSE:HCN) dropped 1.8% on Friday . The company traded as low as $76.27 and last traded at $76.30, with a volume of 666,039 shares. The stock had previously closed at $77.71.

HCN has been the subject of a number of research reports. Canaccord Genuity restated a “buy” rating and set a $79.00 target price on shares of Welltower in a report on Wednesday, May 4th. Stifel Nicolaus raised their target price on shares of Welltower from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Wednesday, May 4th. Wells Fargo & Co. restated a “buy” rating on shares of Welltower in a report on Tuesday, May 3rd. Morgan Stanley restated a “buy” rating on shares of Welltower in a research report on Tuesday, April 19th. Finally, Zacks Investment Research upgraded shares of Welltower from a “sell” rating to a “hold” rating in a research report on Tuesday, April 26th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company’s stock. Welltower presently has an average rating of “Hold” and a consensus price target of $70.56.

The firm has a market cap of $27.24 billion and a price-to-earnings ratio of 41.33. The firm’s 50-day moving average price is $76.28 and its 200-day moving average price is $69.49.

Welltower (NYSE:HCN) last released its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $1.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.01. The business earned $1.08 billion during the quarter, compared to analyst estimates of $1.04 billion. The company’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the company posted $1.09 earnings per share. Analysts forecast that Welltower Inc. will post $4.57 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 22nd. Investors of record on Tuesday, August 9th will be paid a $0.86 dividend. The ex-dividend date of this dividend is Friday, August 5th. This represents a $3.44 annualized dividend and a dividend yield of 4.50%.

In other Welltower news, CFO Scott A. Estes sold 3,192 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $78.97, for a total transaction of $252,072.24. Following the sale, the chief financial officer now directly owns 133,126 shares in the company, valued at $10,512,960.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Erin C. Ibele sold 2,500 shares of the stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $72.10, for a total transaction of $180,250.00. Following the sale, the executive vice president now owns 65,211 shares in the company, valued at $4,701,713.10. The disclosure for this sale can be found here.

A number of large investors have recently made changes to their positions in HCN. Dimensional Fund Advisors LP increased its stake in shares of Welltower by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,487,835 shares of the real estate investment trust’s stock worth $305,309,000 after buying an additional 95,844 shares during the last quarter. Morningstar Investment Services LLC increased its stake in shares of Welltower by 11.1% in the fourth quarter. Morningstar Investment Services LLC now owns 427,760 shares of the real estate investment trust’s stock worth $29,100,000 after buying an additional 42,844 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Welltower by 31.7% in the fourth quarter. Bank of Montreal Can now owns 270,471 shares of the real estate investment trust’s stock worth $18,399,000 after buying an additional 65,038 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of Welltower by 26.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 265,500 shares of the real estate investment trust’s stock worth $18,062,000 after buying an additional 55,000 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of Welltower by 0.3% in the fourth quarter. Advisors Asset Management Inc. now owns 160,689 shares of the real estate investment trust’s stock worth $10,932,000 after buying an additional 466 shares during the last quarter.

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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