Welltower Inc. (NYSE:HCN) dropped 2% during mid-day trading on Thursday . The stock traded as low as $77.30 and last traded at $77.34, with a volume of 1,271,959 shares traded. The stock had previously closed at $78.90.

HCN has been the topic of several research reports. Citigroup Inc. raised their target price on shares of Welltower from $67.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, May 13th. Morgan Stanley restated a “buy” rating on shares of Welltower in a report on Tuesday, April 19th. 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. 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 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. The stock currently has an average rating of “Hold” and an average price target of $71.00.

The stock’s 50 day moving average price is $76.97 and its 200 day moving average price is $69.91. The company has a market cap of $28.05 billion and a P/E ratio of 42.40.

Welltower (NYSE:HCN) last issued its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $1.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.01. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the company posted $1.09 EPS. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. Analysts predict that Welltower Inc. will post $4.57 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 22nd. Shareholders of record on Tuesday, August 9th will be paid a dividend of $0.86 per share. The ex-dividend date is Friday, August 5th. This represents a $3.44 dividend on an annualized basis and a yield of 4.39%.

In other news, EVP Scott M. Brinker sold 18,424 shares of the company’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $76.63, for a total value of $1,411,831.12. Following the sale, the executive vice president now directly owns 111,756 shares of the company’s stock, valued at approximately $8,563,862.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Erin C. Ibele sold 2,500 shares of the company’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $72.10, for a total transaction of $180,250.00. Following the completion of the sale, the executive vice president now directly owns 65,211 shares in the company, valued at $4,701,713.10. The disclosure for this sale can be found here.

Several hedge funds have added to or reduced their stakes in HCN. Eaton Vance Management increased its stake in 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 during the period. Bridgewater Associates LP increased its stake 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. I.G. Investment Management LTD. increased its stake 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. Utah Retirement Systems increased its stake 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, Stephens Inc. AR increased its stake 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.

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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