Pictet Asset Management Ltd. Has $14.46 Million Stake in Welltower Inc. (NYSE:HCN)
Pictet Asset Management Ltd. cut its stake in Welltower Inc. (NYSE:HCN) by 3.1% during the second quarter, Holdings Channel reports. The firm owned 199,266 shares of the real estate investment trust’s stock after selling 6,400 shares during the period. Pictet Asset Management Ltd.’s holdings in Welltower were worth $14,455,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Green Street Investors LLC bought a new stake in shares of Welltower during the first quarter valued at about $14,136,000. Sabal Trust CO increased its stake in shares of Welltower by 2.1% in the first quarter. Sabal Trust CO now owns 324,528 shares of the real estate investment trust’s stock valued at $22,983,000 after buying an additional 6,592 shares in the last quarter. Financial Counselors Inc. increased its stake in shares of Welltower by 6.2% in the first quarter. Financial Counselors Inc. now owns 7,959 shares of the real estate investment trust’s stock valued at $564,000 after buying an additional 468 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Welltower by 1.2% in the first quarter. Great West Life Assurance Co. Can now owns 504,586 shares of the real estate investment trust’s stock valued at $35,704,000 after buying an additional 6,063 shares in the last quarter. Finally, Duncker Streett & Co. Inc. increased its stake in shares of 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 valued at $112,000 after buying an additional 511 shares in the last quarter. Institutional investors own 85.62% of the company’s stock.
Welltower Inc. (NYSE HCN) opened at 70.40 on Friday. The company has a market cap of $25.97 billion, a P/E ratio of 21.92 and a beta of 0.23. Welltower Inc. has a 52-week low of $59.39 and a 52-week high of $78.71. The company has a 50-day moving average of $73.55 and a 200-day moving average of $71.18.
Welltower (NYSE:HCN) last announced its earnings results on Friday, July 28th. The real estate investment trust reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.01. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. Welltower had a net margin of 28.94% and a return on equity of 8.74%. During the same period last year, the firm posted $0.54 earnings per share. On average, equities research analysts expect that Welltower Inc. will post $2.31 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Tuesday, August 8th will be paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date is Friday, August 4th. Welltower’s dividend payout ratio is currently 108.41%.
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Several equities research analysts have recently issued reports on HCN shares. BidaskClub downgraded shares of Welltower from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Evercore ISI downgraded shares of Welltower from an “in-line” rating to an “underperform” rating in a research report on Monday, April 24th. Canaccord Genuity reissued a “buy” rating and set a $86.00 price objective on shares of Welltower in a research report on Friday, May 5th. Mizuho reissued a “neutral” rating on shares of Welltower in a research report on Wednesday, June 28th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $72.00 price objective on shares of Welltower in a research report on Wednesday, May 3rd. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. Welltower currently has a consensus rating of “Hold” and a consensus 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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