Welltower (NYSE:WELL) Lifted to “Hold” at Zacks Investment Research


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Welltower (NYSE:WELL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday, Zacks.com reports. The firm presently has a $80.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 5.55% from the company’s current price.

According to Zacks, “Welltower’s performance in first-quarter 2021 is likely to supported by moderation in occupancy erosion and the rise in vaccination coverage. Notably, in a recently business update, the company announced that it expects to attain the top-end of its first-quarter 2021 normalized funds from operations (FFO) guidance of 71-76 cents. Also, virtually all of its senior housing communities are likely to complete the final scheduled vaccinations by “early to mid April”. However, significant turnaround is less likely and the company’s near-term performance will be hindered. In fact, the senior housing landscape is likely to be competitive in 2021 as operators try to fill unoccupied units. Also, near-term earnings dilution from asset sales cannot be avoided. Shares of the company have underperformed the industry in the past month.”

A number of other equities research analysts have also issued reports on the stock. Morgan Stanley raised their price target on shares of Welltower from $76.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, April 7th. Robert W. Baird raised their target price on Welltower from $74.00 to $79.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 7th. Bank of America upgraded Welltower from a “neutral” rating to a “buy” rating and boosted their price target for the company from $73.00 to $78.00 in a report on Tuesday, March 30th. Mizuho increased their price objective on Welltower from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, February 9th. Finally, Barclays boosted their target price on Welltower from $59.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 7th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $63.69.

WELL opened at $75.79 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.32 and a quick ratio of 3.32. The stock’s 50 day simple moving average is $72.14 and its 200 day simple moving average is $64.21. The firm has a market cap of $31.63 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 5.10 and a beta of 0.87. Welltower has a 1 year low of $36.08 and a 1 year high of $76.19.

Welltower (NYSE:WELL) last announced its quarterly earnings data on Tuesday, February 9th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.38). Welltower had a net margin of 26.20% and a return on equity of 8.64%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the firm posted $0.55 EPS. The business’s revenue for the quarter was down 11.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Welltower will post 3.43 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of WELL. BlackRock Inc. raised its stake in shares of Welltower by 2.4% in the fourth quarter. BlackRock Inc. now owns 43,455,641 shares of the real estate investment trust’s stock worth $2,808,106,000 after buying an additional 1,030,817 shares during the period. Principal Financial Group Inc. raised its stake in Welltower by 16.9% during the 4th quarter. Principal Financial Group Inc. now owns 13,996,469 shares of the real estate investment trust’s stock worth $904,452,000 after acquiring an additional 2,023,355 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Welltower by 48.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,839,861 shares of the real estate investment trust’s stock worth $829,712,000 after acquiring an additional 4,177,256 shares during the period. PGGM Investments lifted its holdings in Welltower by 2.7% during the fourth quarter. PGGM Investments now owns 6,595,689 shares of the real estate investment trust’s stock valued at $426,213,000 after purchasing an additional 175,000 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of Welltower by 24.8% in the fourth quarter. Morgan Stanley now owns 6,369,856 shares of the real estate investment trust’s stock worth $411,620,000 after purchasing an additional 1,267,058 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

About Welltower

Welltower Inc (NYSE:WELL), an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. The Company invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health care experience.

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