Arizona State Retirement System Has $8.96 Million Position in Welltower Inc. (NYSE:HCN)
Arizona State Retirement System decreased its position in shares of Welltower Inc. (NYSE:HCN) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,695 shares of the real estate investment trust’s stock after selling 3,000 shares during the period. Arizona State Retirement System’s holdings in Welltower were worth $8,959,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of HCN. Bessemer Group Inc. raised its stake in Welltower by 97.6% in the second quarter. Bessemer Group Inc. now owns 1,413 shares of the real estate investment trust’s stock worth $106,000 after buying an additional 698 shares in the last quarter. Trust Co. of Vermont raised its stake in Welltower by 42.7% in the first quarter. Trust Co. of Vermont now owns 1,505 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 450 shares in the last quarter. Duncker Streett & Co. Inc. raised its stake in Welltower by 47.6% in the first quarter. Duncker Streett & Co. Inc. now owns 1,584 shares of the real estate investment trust’s stock worth $112,000 after buying an additional 511 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Welltower by 13.2% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,813 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 212 shares in the last quarter. Finally, Ledyard National Bank raised its stake in Welltower by 42.7% in the first quarter. Ledyard National Bank now owns 1,820 shares of the real estate investment trust’s stock worth $129,000 after buying an additional 545 shares in the last quarter. 85.62% of the stock is owned by institutional investors.
Welltower Inc. (NYSE HCN) opened at 70.40 on Friday. Welltower Inc. has a 12-month low of $59.39 and a 12-month high of $78.71. The firm has a market cap of $25.97 billion, a P/E ratio of 21.92 and a beta of 0.23. The company has a 50-day moving average price of $73.55 and a 200-day moving average price of $71.18.
Welltower (NYSE:HCN) last released its earnings results on Friday, July 28th. The real estate investment trust reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.01. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Welltower had a return on equity of 8.74% and a net margin of 28.94%. During the same quarter in the previous year, the business posted $0.54 EPS. On average, analysts predict that Welltower Inc. will post $2.31 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Tuesday, August 8th will be paid a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 4.94%. The ex-dividend date is Friday, August 4th. Welltower’s payout ratio is 108.41%.
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HCN has been the subject of a number of analyst reports. Canaccord Genuity reaffirmed a “buy” rating and set a $86.00 price objective on shares of Welltower in a research note on Friday, May 5th. BidaskClub raised shares of Welltower from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Royal Bank Of Canada reaffirmed a “hold” rating and set a $72.00 price objective on shares of Welltower in a research note on Monday, June 5th. Jefferies Group LLC reaffirmed a “hold” rating and set a $65.00 price objective on shares of Welltower in a research note on Friday, May 12th. Finally, Mizuho reaffirmed a “neutral” rating on shares of Welltower in a research note on Wednesday, June 28th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $72.77.
Welltower Inc invests with seniors housing operators, post-acute providers and health systems to fund real estate and infrastructure. The Company invests in seniors housing and healthcare real estate. It operates in three segments: triple-net, seniors housing operating and outpatient medical. Welltower, a real estate investment trust (REIT), owns interests in properties concentrated in markets in the United States, Canada and the United Kingdom, consisting of seniors housing and post-acute communities, and outpatient medical properties.
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