Nationwide Fund Advisors Has $7.27 Million Position in Welltower Inc. (HCN)
Nationwide Fund Advisors reduced its position in shares of Welltower Inc. (NYSE:HCN) by 58.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 103,485 shares of the real estate investment trust’s stock after selling 147,521 shares during the period. Nationwide Fund Advisors’ holdings in Welltower were worth $7,273,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Bessemer Group Inc. increased its position in Welltower by 97.6% in 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 in the last quarter. Miles Capital Inc. acquired a new stake in Welltower in the 2nd quarter valued at about $205,000. Arcadia Investment Management Corp MI increased its position in Welltower by 147.4% in 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 in the last quarter. Ballentine Partners LLC acquired a new stake in Welltower in the 2nd quarter valued at about $210,000. Finally, Martingale Asset Management L P acquired a new stake in Welltower in the 2nd quarter valued at about $210,000. 86.67% of the stock is owned by hedge funds and other institutional investors.
Several research firms have weighed in on HCN. Bank of America cut shares of Welltower to a “neutral” rating and lowered their price objective for the company from $78.00 to $77.00 in a research report on Friday, September 22nd. Jefferies Group restated a “hold” rating and issued a $72.00 price objective on shares of Welltower in a research report on Tuesday, October 3rd. Royal Bank Of Canada restated a “hold” rating and issued a $74.00 price objective on shares of Welltower in a research report on Wednesday, September 6th. UBS lowered their price objective on shares of Welltower from $71.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday, October 2nd. Finally, Capital One Financial started coverage on shares of Welltower in a research report on Monday, September 25th. They issued an “equal weight” rating and a $74.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $72.71.
Shares of Welltower Inc. (HCN) traded up $0.13 during trading hours on Monday, hitting $66.32. 2,018,100 shares of the stock traded hands, compared to its average volume of 1,772,065. Welltower Inc. has a 12 month low of $63.05 and a 12 month high of $78.17. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.76 and a current ratio of 1.76. The firm has a market cap of $24,562.06, a PE ratio of 15.46, a price-to-earnings-growth ratio of 4.46 and a beta of 0.25.
Welltower (NYSE:HCN) last issued its quarterly earnings results on Tuesday, November 7th. The real estate investment trust reported $1.08 EPS for the quarter, topping the consensus estimate of $1.05 by $0.03. Welltower had a net margin of 22.67% and a return on equity of 7.45%. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the company earned $1.16 EPS. Welltower’s revenue was up 1.1% on a year-over-year basis. sell-side analysts anticipate that Welltower Inc. will post 4.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Tuesday, November 7th were issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 5.25%. The ex-dividend date was Monday, November 6th. Welltower’s dividend payout ratio is currently 140.32%.
In other news, Director Gary Whitelaw acquired 1,420 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was purchased at an average price of $68.39 per share, for a total transaction of $97,113.80. Following the completion of the acquisition, the director now owns 1,420 shares in the company, valued at $97,113.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is currently owned by insiders.
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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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