Welltower Inc. (HCN) Shares Sold by Investment Centers of America Inc.
Investment Centers of America Inc. lessened its stake in Welltower Inc. (NYSE:HCN) by 20.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,534 shares of the real estate investment trust’s stock after selling 4,481 shares during the quarter. Investment Centers of America Inc.’s holdings in Welltower were worth $1,310,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Green Street Investors LLC purchased a new position in shares of Welltower in the first quarter worth $14,136,000. Financial Counselors Inc. lifted its holdings 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 worth $564,000 after buying an additional 468 shares in the last quarter. Kelman Lazarov Inc. lifted its holdings in shares of Welltower by 0.4% in the second quarter. Kelman Lazarov Inc. now owns 13,325 shares of the real estate investment trust’s stock worth $997,000 after buying an additional 50 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Welltower by 6.0% in the first quarter. Legal & General Group Plc now owns 2,582,755 shares of the real estate investment trust’s stock worth $182,908,000 after buying an additional 146,302 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Welltower by 2.7% in the second quarter. Swiss National Bank now owns 1,552,966 shares of the real estate investment trust’s stock worth $116,240,000 after buying an additional 40,200 shares in the last quarter. 86.01% of the stock is currently owned by hedge funds and other institutional investors.
Welltower Inc. (NYSE HCN) traded up 0.16% during midday trading on Friday, reaching $74.57. 2,809,981 shares of the company were exchanged. The stock has a market capitalization of $27.51 billion, a P/E ratio of 23.22 and a beta of 0.24. The firm’s 50 day moving average price is $72.53 and its 200-day moving average price is $72.25. Welltower Inc. has a 52 week low of $59.39 and a 52 week high of $78.17.
Welltower (NYSE:HCN) last announced its quarterly earnings data 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 company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Welltower had a return on equity of 8.74% and a net margin of 28.94%. During the same quarter last year, the firm posted $0.54 EPS. Equities analysts forecast that Welltower Inc. will post $2.29 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Tuesday, August 8th were issued a $0.87 dividend. The ex-dividend date of this dividend was Friday, August 4th. This represents a $3.48 dividend on an annualized basis and a yield of 4.67%. Welltower’s payout ratio is currently 108.41%.
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Several research firms have recently commented on HCN. BMO Capital Markets reissued a “sell” rating and issued a $68.00 target price on shares of Welltower in a report on Friday, July 28th. BidaskClub downgraded shares of Welltower from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Mizuho reissued a “neutral” rating on shares of Welltower in a report on Wednesday, June 28th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $74.00 target price on shares of Welltower in a report on Wednesday, September 6th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $71.55.
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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