ProVise Management Group LLC Lowers Holdings in Welltower Inc (HCN)
ProVise Management Group LLC cut its position in Welltower Inc (NYSE:HCN) by 5.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,110 shares of the real estate investment trust’s stock after selling 2,825 shares during the quarter. ProVise Management Group LLC’s holdings in Welltower were worth $3,323,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Spectrum Management Group Inc. bought a new stake in shares of Welltower during the 3rd quarter valued at $100,000. Wealthcare Advisory Partners LLC bought a new stake in shares of Welltower during the 3rd quarter valued at $101,000. San Francisco Sentry Investment Group CA raised its stake in shares of Welltower by 1,048.5% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 1,539 shares of the real estate investment trust’s stock valued at $108,000 after purchasing an additional 1,405 shares during the period. SeaCrest Wealth Management LLC bought a new stake in shares of Welltower during the 4th quarter valued at $105,000. Finally, FTB Advisors Inc. raised its stake in shares of Welltower by 547.2% during the 4th quarter. FTB Advisors Inc. now owns 1,825 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 1,543 shares during the period. Hedge funds and other institutional investors own 86.22% of the company’s stock.
In other Welltower news, Director Gary Whitelaw bought 1,420 shares of Welltower stock in a transaction that occurred on Tuesday, November 21st. The stock was acquired at an average cost of $68.39 per share, for a total transaction of $97,113.80. Following the completion of the transaction, the director now directly owns 1,420 shares in the company, valued at $97,113.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is owned by insiders.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 21st. Investors of record on Tuesday, February 13th will be given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 6.41%. The ex-dividend date is Monday, February 12th. Welltower’s payout ratio is 140.32%.
A number of research firms recently issued reports on HCN. TheStreet lowered Welltower from a “b-” rating to a “c+” rating in a research note on Thursday, February 8th. ValuEngine lowered Welltower from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded Welltower from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. SunTrust Banks set a $66.00 price objective on Welltower and gave the company a “hold” rating in a research note on Monday, January 22nd. Finally, KeyCorp reiterated a “hold” rating on shares of Welltower in a research note on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $71.62.
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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