Investors Buy Shares of Welltower Inc. (HCN) on Weakness
Investors bought shares of Welltower Inc. (NYSE:HCN) on weakness during trading hours on Thursday. $35.82 million flowed into the stock on the tick-up and $26.32 million flowed out of the stock on the tick-down, for a money net flow of $9.50 million into the stock. Of all equities tracked, Welltower had the 16th highest net in-flow for the day. Welltower traded down ($1.15) for the day and closed at $77.75
A number of research analysts have recently weighed in on the stock. Wells Fargo & Co. reissued a “buy” rating on shares of Welltower in a research report on Tuesday, May 3rd. BMO Capital Markets restated a “sell” rating on shares of Welltower in a research note on Tuesday, May 3rd. Canaccord Genuity restated a “buy” rating and set a $79.00 price target on shares of Welltower in a research note on Wednesday, May 4th. Stifel Nicolaus upped their price target on shares of Welltower from $73.00 to $76.00 and gave the company a “buy” rating in a research note on Wednesday, May 4th. Finally, Zacks Investment Research upgraded shares of Welltower from a “sell” rating to a “hold” rating in a research note on Tuesday, April 26th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $71.00.
The stock has a market cap of $28.05 billion and a price-to-earnings ratio of 42.40. The stock has a 50 day moving average price of $76.97 and a 200 day moving average price of $69.91.
Welltower (NYSE:HCN) last issued its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.01. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the firm earned $1.09 EPS. Welltower’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, equities research analysts expect that Welltower Inc. will post $4.57 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 22nd. Shareholders of record on Tuesday, August 9th will be issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend is Friday, August 5th.
In other news, 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 transaction, the executive vice president now owns 65,211 shares of the company’s stock, valued at $4,701,713.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $1,042,399.20. Following the completion of the transaction, the chief financial officer now directly owns 144,724 shares in the company, valued at approximately $10,200,147.52. The disclosure for this sale can be found here.
Several institutional investors recently added to or reduced their stakes in the company. Bridgewater Associates LP increased its position in Welltower by 276.1% in the fourth quarter. Bridgewater Associates LP now owns 34,871 shares of the real estate investment trust’s stock valued at $2,372,000 after buying an additional 25,600 shares during the period. Stephens Inc. AR increased its position in Welltower by 7.5% in the fourth quarter. Stephens Inc. AR now owns 104,087 shares of the real estate investment trust’s stock valued at $7,081,000 after buying an additional 7,256 shares during the period. State of New Jersey Common Pension Fund D increased its position 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. Utah Retirement Systems increased its position in Welltower by 1.6% in the fourth quarter. Utah Retirement Systems now owns 74,716 shares of the real estate investment trust’s stock valued at $5,082,000 after buying an additional 1,200 shares during the period. Finally, I.G. Investment Management LTD. increased its position in Welltower by 63.8% in the fourth quarter. I.G. Investment Management LTD. now owns 42,476 shares of the real estate investment trust’s stock valued at $2,890,000 after buying an additional 16,538 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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