Welltower Inc. (HCN) Trading Down 1.8% Following Insider Selling
Welltower Inc. (NYSE:HCN) shares dropped 1.8% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $70.15 and last traded at $70.57, with a volume of 1,427,379 shares changing hands. The stock had previously closed at $71.88.
Specifically, EVP Scott M. Brinker sold 18,424 shares of the business’s stock in a transaction that occurred 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 in the company, 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 the SEC website. Also, CFO Scott A. Estes sold 3,192 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $74.11, for a total transaction of $236,559.12. Following the completion of the sale, the chief financial officer now owns 133,126 shares in the company, valued at $9,865,967.86. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.
HCN has been the topic of a number of research reports. Citigroup Inc. boosted their target price on shares of Welltower from $73.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, August 11th. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $72.00 target price on shares of Welltower in a report on Thursday, June 30th. BTIG Research initiated coverage on shares of Welltower in a report on Thursday, August 25th. They issued a “neutral” rating on the stock. Canaccord Genuity reiterated a “buy” rating and issued a $86.00 target price on shares of Welltower in a report on Tuesday, September 13th. Finally, Morgan Stanley downgraded shares of Welltower from an “overweight” rating to an “equal weight” rating and set a $69.00 target price on the stock. in a report on Wednesday, June 22nd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company’s stock. Welltower has a consensus rating of “Hold” and a consensus target price of $72.25.
The firm has a market capitalization of $25.19 billion, a P/E ratio of 38.08 and a beta of 0.35. The company has a 50 day moving average of $75.45 and a 200-day moving average of $73.41.
Welltower (NYSE:HCN) last announced its earnings results on Tuesday, August 2nd. The real estate investment trust reported $1.15 EPS for the quarter, topping the consensus estimate of $1.14 by $0.01. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.04 billion. Welltower had a net margin of 17.15% and a return on equity of 5.08%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the company posted $1.09 EPS. On average, analysts predict that Welltower Inc. will post $4.58 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. State Street Corp increased its stake in shares of Welltower by 1.5% in the first quarter. State Street Corp now owns 20,368,110 shares of the real estate investment trust’s stock valued at $1,412,324,000 after buying an additional 301,240 shares during the period. Donaldson Capital Management LLC increased its stake in shares of Welltower by 3.0% in the first quarter. Donaldson Capital Management LLC now owns 292,037 shares of the real estate investment trust’s stock valued at $20,250,000 after buying an additional 8,626 shares during the period. Kempen Capital Management N.V. increased its stake in shares of Welltower by 21.0% in the first quarter. Kempen Capital Management N.V. now owns 76,083 shares of the real estate investment trust’s stock valued at $5,275,000 after buying an additional 13,217 shares during the period. BB&T Securities LLC increased its stake in shares of Welltower by 51.9% in the first quarter. BB&T Securities LLC now owns 171,559 shares of the real estate investment trust’s stock valued at $11,896,000 after buying an additional 58,647 shares during the period. Finally, OMERS ADMINISTRATION Corp increased its stake in shares of Welltower by 12.2% in the first quarter. OMERS ADMINISTRATION Corp now owns 947,400 shares of the real estate investment trust’s stock valued at $65,693,000 after buying an additional 102,900 shares during the period. Hedge funds and other institutional investors own 87.85% of the company’s stock.
Welltower Company Profile
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.
Receive News & Ratings for Welltower Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Welltower Inc. and related companies with MarketBeat.com's FREE daily email newsletter.