V3 Capital Management L.P. Takes $6.24 Million Position in Welltower Inc. (HCN)
V3 Capital Management L.P. acquired a new position in shares of Welltower Inc. (NYSE:HCN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 83,300 shares of the real estate investment trust’s stock, valued at approximately $6,235,000. Welltower comprises approximately 1.5% of V3 Capital Management L.P.’s portfolio, making the stock its 11th largest holding.
A number of other hedge funds have also recently modified their holdings of HCN. UBS Asset Management Americas Inc. grew its position in Welltower by 11.5% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,760,173 shares of the real estate investment trust’s stock worth $124,655,000 after acquiring an additional 180,861 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Welltower during the 1st quarter worth $526,000. Rational Advisors LLC bought a new stake in Welltower during the 1st quarter worth $659,000. Ingalls & Snyder LLC grew its position in Welltower by 1.2% during the 1st quarter. Ingalls & Snyder LLC now owns 20,629 shares of the real estate investment trust’s stock worth $1,461,000 after acquiring an additional 250 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC grew its position in Welltower by 76.1% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 73,289 shares of the real estate investment trust’s stock worth $5,190,000 after acquiring an additional 31,660 shares during the last quarter. Institutional investors and hedge funds own 85.90% of the company’s stock.
Welltower (NYSE:HCN) last announced its quarterly earnings data on Friday, July 28th. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.01. Welltower had a return on equity of 8.74% and a net margin of 28.94%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the firm earned $0.54 earnings per share.
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A number of equities research analysts recently weighed in on HCN shares. Royal Bank Of Canada restated a “hold” rating and set a $72.00 price objective on shares of Welltower in a research report on Monday, June 5th. BidaskClub upgraded Welltower from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Capital One Financial Corporation started coverage on Welltower in a research report on Monday. They set an “equal weight” rating and a $74.00 price objective on the stock. Mizuho restated a “neutral” rating on shares of Welltower in a research report on Wednesday, June 28th. Finally, Bank of America Corporation lowered Welltower to a “neutral” rating and reduced their price objective for the stock from $78.00 to $77.00 in a research report on Friday. Four analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $72.15.
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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