Welltower Inc. $WELL Stock: Provenance Wealth Advisors LLC Grows Stake

Provenance Wealth Advisors LLC lifted its position in Welltower Inc. (NYSE:WELL) by 27,862.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,237 shares of the real estate investment trust’s stock after acquiring an additional 2,229 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Welltower were worth $515,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Hughes Financial Services LLC raised its holdings in shares of Welltower by 24.9% in the 3rd quarter. Hughes Financial Services LLC now owns 301 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 60 shares in the last quarter. Associated Banc Corp purchased a new stake in shares of Welltower in the 3rd quarter worth approximately $959,000. Integrity Alliance LLC. lifted its position in shares of Welltower by 8.6% in the 3rd quarter. Integrity Alliance LLC. now owns 1,348 shares of the real estate investment trust’s stock worth $311,000 after purchasing an additional 107 shares during the period. Integrity Advisory Solutions LLC purchased a new stake in shares of Welltower in the 3rd quarter worth approximately $446,000. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Welltower by 2.1% during the third quarter. Oregon Public Employees Retirement Fund now owns 88,610 shares of the real estate investment trust’s stock valued at $20,402,000 after purchasing an additional 1,813 shares in the last quarter. 94.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Welltower

In other Welltower news, Director Andrew Gundlach acquired 5,000 shares of the stock in a transaction dated Wednesday, August 26th. The stock was purchased at an average price of $242.06 per share, with a total value of $1,210,300.00. Following the transaction, the director directly owned 30,000 shares of the company’s stock, valued at $7,261,800. This trade represents a 20.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Purchased indirectly through two trusts. The transaction was executed in multiple trades at prices ranging from $241.59 to $242.59. The reported $242.06 price is the weighted-average purchase price. Corporate insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. UBS Group reissued a “buy” rating and set a $269.00 price objective on shares of Welltower in a report on Tuesday, October 27th. JPMorgan Chase & Co. upgraded Welltower from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $230.00 to $260.00 in a report on Thursday, September 24th. BNP Paribas Exane upped their target price on Welltower from $238.00 to $272.00 and gave the stock an “outperform” rating in a report on Tuesday, July 28th. Evercore reaffirmed an “outperform” rating and set a $256.00 target price (down from $260.00) on shares of Welltower in a research report on Monday, September 21st. Finally, Wells Fargo & Company lifted their price target on Welltower from $266.00 to $268.00 and gave the company an “overweight” rating in a report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $259.81.

Welltower Trading Down 0.9%

NYSE WELL opened at $245.78 on Friday. The company has a quick ratio of 3.16, a current ratio of 3.16 and a debt-to-equity ratio of 0.39. The firm has a market cap of $180.30 billion, a PE ratio of 106.40, a price-to-earnings-growth ratio of 1.18 and a beta of 0.79. The company has a 50 day moving average price of $233.72 and a 200 day moving average price of $219.33. Welltower Inc. has a 52 week low of $181.47 and a 52 week high of $255.20.

Welltower (NYSE:WELL) last posted its earnings results on Monday, October 26th. The real estate investment trust reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Welltower had a net margin of 12.08% and a return on equity of 3.61%. Welltower’s revenue for the quarter was up 38.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.34 earnings per share. As a group, sell-side analysts forecast that Welltower Inc. will post 6.51 EPS for the current fiscal year.

Welltower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Tuesday, November 10th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, November 10th. Welltower’s dividend payout ratio is currently 147.19%.

About Welltower

Welltower Inc (NYSE: WELL) is a healthcare-focused real estate investment trust that owns, develops, and manages properties used to provide healthcare and related services. Its portfolio is centered on senior housing communities, outpatient medical facilities, and post-acute care properties, including assets operated by healthcare providers and senior living companies.

The company’s senior housing investments support independent living, assisted living, and memory care services. Its outpatient medical properties accommodate physicians, clinics, and other healthcare providers, while its broader healthcare real estate portfolio is designed to serve demand for care delivered outside traditional hospitals.