Zacks Investment Research Upgrades Welltower (HCN) to Hold
Welltower (NYSE:HCN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Shares of Welltower underperformed its industry in the past three months. However, the Zacks Consensus Estimate for fourth-quarter 2017 funds from operations (FFO) per share remained unchanged in a month’s time. Notably, the company is set to acquire a portfolio of four rental continuing care retirement communities (CCRCs) and convert those to a RIDEA structure. Further, it has secured a major institutional investor for the development of an assisted living and memory care community in midtown Manhattan. Moreover, Welltower’s high quality seniors housing portfolio, concentrated in major metro markets, is likely to serve as growth driver in the long run amid the rising senior citizen population that spends more on healthcare services compared to the average population. However, rate hike remains a concern because of its high exposure to long-term leased assets. Adverse effects on earnings due to increased dispositions add to its woes.”
Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus decreased their price target 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. ValuEngine raised shares of Welltower from a “hold” rating to a “buy” rating in a research report on Saturday, January 13th. Stephens set a $70.00 target price on shares of Welltower and gave the stock a “buy” rating in a research report on Friday, January 12th. Capital One Financial assumed coverage on shares of Welltower in a research report on Monday, September 25th. They issued an “equal weight” rating and a $74.00 target price on the stock. Finally, SunTrust Banks set a $66.00 target price on shares of Welltower and gave the stock a “hold” rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Welltower currently has a consensus rating of “Hold” and a consensus price target of $71.62.
Welltower (NYSE:HCN) last released its quarterly earnings results on Tuesday, November 7th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the company earned $1.16 EPS. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. sell-side analysts predict that Welltower will post 4.24 earnings per share for the current fiscal year.
In other Welltower news, Director Gary Whitelaw purchased 1,420 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were 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 of the company’s stock, valued at approximately $97,113.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bowling Portfolio Management LLC purchased a new position in Welltower in the fourth quarter valued at approximately $628,000. Forte Capital LLC ADV raised its holdings in Welltower by 23.6% in the fourth quarter. Forte Capital LLC ADV now owns 9,960 shares of the real estate investment trust’s stock valued at $635,000 after buying an additional 1,905 shares during the period. State of Alaska Department of Revenue raised its holdings in Welltower by 9.7% in the fourth quarter. State of Alaska Department of Revenue now owns 255,486 shares of the real estate investment trust’s stock valued at $16,290,000 after buying an additional 22,670 shares during the period. Oakbrook Investments LLC raised its holdings in Welltower by 10.6% in the fourth quarter. Oakbrook Investments LLC now owns 14,569 shares of the real estate investment trust’s stock valued at $929,000 after buying an additional 1,400 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its holdings in Welltower by 6.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,544,275 shares of the real estate investment trust’s stock valued at $226,019,000 after buying an additional 214,622 shares during the period. Hedge funds and other institutional investors own 86.40% of the company’s stock.
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Welltower Company Profile
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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