Welltower Inc. (HCN) Earns Buy Rating from Barclays PLC
Barclays PLC reiterated their buy rating on shares of Welltower Inc. (NYSE:HCN) in a research note issued to investors on Monday morning. They currently have a $73.00 price target on the real estate investment trust’s stock.
A number of other research analysts have also issued reports on HCN. Canaccord Genuity restated a buy rating and set a $86.00 target price on shares of Welltower in a research report on Tuesday, December 13th. BMO Capital Markets reiterated a sell rating and set a $70.00 price target on shares of Welltower in a research report on Wednesday, November 2nd. Zacks Investment Research upgraded shares of Welltower from a sell rating to a hold rating in a research report on Friday, January 6th. Wells Fargo & Company lowered shares of Welltower from an outperform rating to a market perform rating in a research report on Tuesday, December 13th. Finally, S&P Equity Research reiterated a positive rating on shares of Welltower in a research report on Thursday, November 3rd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $73.00.
Shares of Welltower (NYSE:HCN) opened at 66.85 on Monday. The firm’s 50 day moving average is $65.35 and its 200 day moving average is $71.30. The company has a market cap of $24.24 billion, a PE ratio of 29.49 and a beta of 0.21. Welltower has a 12 month low of $52.80 and a 12 month high of $80.19.
Welltower (NYSE:HCN) last announced its earnings results on Wednesday, November 2nd. The real estate investment trust reported $1.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.01. Welltower had a net margin of 20.74% and a return on equity of 6.37%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the business posted $1.12 EPS. The business’s revenue was up 10.2% compared to the same quarter last year. On average, equities analysts predict that Welltower will post $2.26 earnings per share for the current year.
In other Welltower news, Director Timothy J. Naughton purchased 2,000 shares of the company’s stock in a transaction dated Thursday, November 10th. The stock was purchased at an average price of $60.69 per share, with a total value of $121,380.00. Following the completion of the purchase, the director now owns 9,158 shares of the company’s stock, valued at $555,799.02. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.29% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Stifel Financial Corp acquired a new position in Welltower during the second quarter valued at about $60,731,000. Teachers Advisors Inc. increased its position in Welltower by 57.7% in the second quarter. Teachers Advisors Inc. now owns 1,920,364 shares of the real estate investment trust’s stock valued at $146,274,000 after buying an additional 702,605 shares during the last quarter. Standard Life Investments LTD acquired a new position in Welltower during the third quarter valued at about $48,001,000. Lasalle Investment Management Securities LLC increased its position in Welltower by 5.2% in the third quarter. Lasalle Investment Management Securities LLC now owns 10,129,221 shares of the real estate investment trust’s stock valued at $757,362,000 after buying an additional 498,032 shares during the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new position in Welltower during the second quarter valued at about $37,082,000. 84.86% of the stock is owned by hedge funds and other institutional investors.
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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