Municipal Employees Retirement System of Michigan Reduces Holdings in Welltower Inc. (HCN)
Municipal Employees Retirement System of Michigan reduced its position in Welltower Inc. (NYSE:HCN) by 11.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,300 shares of the real estate investment trust’s stock after selling 2,170 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Welltower were worth $1,216,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Bessemer Group Inc. increased its holdings in shares of Welltower by 97.6% during the 2nd quarter. Bessemer Group Inc. now owns 1,413 shares of the real estate investment trust’s stock valued at $106,000 after acquiring an additional 698 shares during the last quarter. Hudock Capital Group LLC increased its holdings in shares of Welltower by 543.7% during the 3rd quarter. Hudock Capital Group LLC now owns 2,002 shares of the real estate investment trust’s stock valued at $140,000 after acquiring an additional 1,691 shares during the last quarter. Harbour Capital Advisors LLC increased its holdings in shares of Welltower by 7,385.0% during the 2nd quarter. Harbour Capital Advisors LLC now owns 11,452 shares of the real estate investment trust’s stock valued at $153,000 after acquiring an additional 11,299 shares during the last quarter. Miles Capital Inc. acquired a new position in shares of Welltower during the 2nd quarter valued at about $205,000. Finally, Arcadia Investment Management Corp MI increased its holdings in shares of Welltower by 147.4% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 2,974 shares of the real estate investment trust’s stock valued at $209,000 after acquiring an additional 1,772 shares during the last quarter. 86.34% of the stock is currently owned by institutional investors.
HCN has been the subject of several recent analyst reports. Jefferies Group LLC restated a “hold” rating and set a $72.00 target price on shares of Welltower in a research note on Tuesday, October 3rd. KeyCorp restated a “hold” rating on shares of Welltower in a research note on Tuesday, October 17th. Capital One Financial Corporation initiated coverage on Welltower in a research note on Monday, September 25th. They set an “equal weight” rating and a $74.00 target price for the company. BidaskClub downgraded Welltower from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Bank of America Corporation downgraded Welltower to a “neutral” rating and decreased their target price for the company from $78.00 to $77.00 in a research note on Friday, September 22nd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Welltower has a consensus rating of “Hold” and an average price target of $72.71.
Shares of Welltower Inc. (NYSE:HCN) opened at $67.93 on Tuesday. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.79. Welltower Inc. has a 52-week low of $61.08 and a 52-week high of $78.17. The company has a market capitalization of $25,070.00, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 4.58 and a beta of 0.25.
Welltower (NYSE:HCN) last posted its earnings results on Tuesday, November 7th. The real estate investment trust reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.03. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.06 billion. Welltower had a return on equity of 7.45% and a net margin of 22.67%. Welltower’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the company earned $1.16 EPS. sell-side analysts expect that Welltower Inc. will post 4.23 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Tuesday, November 7th were given a dividend of $0.87 per share. The ex-dividend date was Monday, November 6th. This represents a $3.48 annualized dividend and a dividend yield of 5.12%. Welltower’s dividend payout ratio (DPR) is presently 305.26%.
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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