Cannell Peter B & Co. Inc. Raises Position in Welltower Inc. (HCN)
Cannell Peter B & Co. Inc. lifted its stake in Welltower Inc. (NYSE:HCN) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,225 shares of the real estate investment trust’s stock after purchasing an additional 875 shares during the period. Cannell Peter B & Co. Inc.’s holdings in Welltower were worth $6,763,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Welltower by 4.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 135,792 shares of the real estate investment trust’s stock valued at $9,543,000 after purchasing an additional 6,100 shares in the last quarter. Renaissance Group LLC acquired a new stake in shares of Welltower in the third quarter valued at approximately $369,000. Pacer Advisors Inc. increased its holdings in shares of Welltower by 10.4% in the third quarter. Pacer Advisors Inc. now owns 10,010 shares of the real estate investment trust’s stock valued at $704,000 after purchasing an additional 943 shares in the last quarter. Girard Partners LTD. increased its holdings in shares of Welltower by 44.4% in the third quarter. Girard Partners LTD. now owns 4,277 shares of the real estate investment trust’s stock valued at $301,000 after purchasing an additional 1,315 shares in the last quarter. Finally, Rational Advisors LLC acquired a new stake in shares of Welltower in the third quarter valued at approximately $211,000. 86.34% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on the stock. Bank of America Corporation cut shares of Welltower to a “neutral” rating and reduced their price objective for the company from $78.00 to $77.00 in a research note on Friday, September 22nd. KeyCorp reaffirmed a “hold” rating on shares of Welltower in a research note on Tuesday, October 17th. Stifel Nicolaus reduced their price objective on shares of Welltower from $75.00 to $74.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. BidaskClub cut shares of Welltower from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Capital One Financial Corporation raised shares of Welltower from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, November 8th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Welltower currently has an average rating of “Hold” and an average price target of $72.71.
Shares of Welltower Inc. (HCN) traded up $0.36 during midday trading on Wednesday, hitting $68.29. 2,183,000 shares of the stock were exchanged, compared to its average volume of 1,766,025. The company has a market capitalization of $25,158.34, a PE ratio of 15.83, a price-to-earnings-growth ratio of 4.58 and a beta of 0.24. Welltower Inc. has a 52 week low of $61.08 and a 52 week high of $78.17. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.79.
Welltower (NYSE:HCN) last announced its quarterly earnings results on Tuesday, November 7th. The real estate investment trust reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.03. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Welltower had a net margin of 22.67% and a return on equity of 7.45%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the firm posted $1.16 earnings per share. analysts forecast that Welltower Inc. will post 4.23 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 20th. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.10%. Welltower’s dividend payout ratio is 140.32%.
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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