Ngam Advisors L.P. Boosts Stake in Welltower Inc. (HCN)
Ngam Advisors L.P. boosted its stake in shares of Welltower Inc. (NYSE:HCN) by 7.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 242,610 shares of the real estate investment trust’s stock after buying an additional 15,913 shares during the period. Ngam Advisors L.P.’s holdings in Welltower were worth $18,140,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the stock. Squarepoint Ops LLC bought a new stake in shares of Welltower during the first quarter valued at about $569,000. Phocas Financial Corp. bought a new stake in shares of Welltower during the first quarter valued at about $661,000. Fulton Bank N.A. increased its stake in shares of Welltower by 5.7% in the second quarter. Fulton Bank N.A. now owns 26,007 shares of the real estate investment trust’s stock valued at $1,981,000 after buying an additional 1,394 shares during the period. Kistler Tiffany Companies LLC increased its stake in shares of Welltower by 34.6% in the second quarter. Kistler Tiffany Companies LLC now owns 2,861 shares of the real estate investment trust’s stock valued at $218,000 after buying an additional 735 shares during the period. Finally, Raymond James Trust N.A. increased its stake in shares of Welltower by 1.6% in the second quarter. Raymond James Trust N.A. now owns 30,949 shares of the real estate investment trust’s stock valued at $2,357,000 after buying an additional 486 shares during the period. Hedge funds and other institutional investors own 84.87% of the company’s stock.
Welltower Inc. (NYSE:HCN) traded down 2.17% during mid-day trading on Wednesday, hitting $62.80. The company’s stock had a trading volume of 662,934 shares. The stock has a market cap of $22.77 billion, a P/E ratio of 27.70 and a beta of 0.25. The company’s 50 day moving average is $66.41 and its 200-day moving average is $72.56. Welltower Inc. has a 52-week low of $52.80 and a 52-week high of $80.19.
Welltower (NYSE:HCN) last posted its earnings results on Wednesday, November 2nd. The real estate investment trust reported $1.16 EPS for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.01. The business earned $1.08 billion during the quarter, compared to analyst estimates of $1.05 billion. Welltower had a return on equity of 6.37% and a net margin of 20.74%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.12 EPS. On average, equities analysts predict that Welltower Inc. will post $4.54 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 21st. Investors of record on Tuesday, November 8th were issued a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 5.36%. The ex-dividend date was Friday, November 4th. Welltower’s payout ratio is currently 152.21%.
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Several equities research analysts recently issued reports on HCN shares. Hilliard Lyons downgraded Welltower from a “neutral” rating to an “underperform” rating in a report on Tuesday, August 2nd. Royal Bank Of Canada upped their price objective on Welltower from $72.00 to $77.00 and gave the company a “sector perform” rating in a research note on Thursday, August 4th. RBC Capital Markets restated a “sector perform” rating and issued a $77.00 price objective (up previously from $72.00) on shares of Welltower in a research note on Thursday, August 4th. Citigroup Inc. upped their price objective on Welltower from $73.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, August 11th. Finally, Canaccord Genuity upped their price objective on Welltower from $79.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, August 15th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $73.06.
In other news, Director Timothy J. Naughton acquired 2,000 shares of the business’s stock in a transaction that occurred on Thursday, November 10th. The stock was bought at an average price of $60.69 per share, with a total value of $121,380.00. Following the completion of the acquisition, the director now directly owns 9,158 shares of the company’s stock, valued at approximately $555,799.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Scott A. Estes sold 3,192 shares of Welltower stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $76.43, for a total value of $243,964.56. Following the completion of the sale, the chief financial officer now directly owns 133,126 shares of the company’s stock, valued at approximately $10,174,820.18. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.
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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