Traders Buy Welltower Inc. (HCN) on Weakness
Traders purchased shares of Welltower Inc. (NYSE:HCN) on weakness during trading on Friday. $32.45 million flowed into the stock on the tick-up and $16.46 million flowed out of the stock on the tick-down, for a money net flow of $15.99 million into the stock. Of all equities tracked, Welltower had the 18th highest net in-flow for the day. Welltower traded down ($0.47) for the day and closed at $76.38
Several research firms have recently weighed in on HCN. RBC Capital Markets reissued a “sector perform” rating and issued a $77.00 price objective (up from $72.00) on shares of Welltower in a research report on Thursday. BMO Capital Markets reissued a “sell” rating on shares of Welltower in a research report on Tuesday, May 3rd. Royal Bank Of Canada increased their price objective on Welltower from $72.00 to $77.00 and gave the company a “sector perform” rating in a research report on Thursday. Zacks Investment Research cut Welltower from a “hold” rating to a “sell” rating in a research report on Wednesday, April 20th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $79.00 price objective on shares of Welltower in a research report on Wednesday, May 4th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $70.56.
The firm’s 50 day moving average price is $76.28 and its 200 day moving average price is $69.49. The firm has a market capitalization of $27.34 billion and a P/E ratio of 41.33.
Welltower (NYSE:HCN) last issued its earnings results on Tuesday, August 2nd. The real estate investment trust reported $1.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.01. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.04 billion. The business’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 earnings per share. Equities research analysts predict that Welltower Inc. will post $4.57 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 22nd. Stockholders of record on Tuesday, August 9th will be paid a dividend of $0.86 per share. 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 related news, CFO Scott A. Estes sold 14,790 shares of the business’s stock in a transaction on Tuesday, June 7th. The stock was 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 in the company, valued at approximately $10,200,147.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Erin C. Ibele sold 2,500 shares of the business’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $72.10, for a total value of $180,250.00. Following the completion of the sale, the executive vice president now owns 65,211 shares of the company’s stock, valued at $4,701,713.10. The disclosure for this sale can be found here.
A number of hedge funds have recently added to or reduced their stakes in HCN. Dimensional Fund Advisors LP increased its stake in 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 valued at $305,309,000 after buying an additional 95,844 shares during the period. Morningstar Investment Services LLC increased its stake in 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 valued at $29,100,000 after buying an additional 42,844 shares during the period. Bank of Montreal Can increased its stake in 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 valued at $18,399,000 after buying an additional 65,038 shares during the period. State of New Jersey Common Pension Fund D increased its stake in 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 valued at $18,062,000 after buying an additional 55,000 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in 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 valued at $10,932,000 after buying an additional 466 shares during the period.
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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