Welltower (NYSE:WELL) Updates FY 2024 Earnings Guidance

Welltower (NYSE:WELL) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 4.020-4.150 for the period, compared to the consensus earnings per share estimate of 4.060. The company issued revenue guidance of -. Welltower also updated its FY24 guidance to $4.02-4.15 EPS.

Welltower Price Performance

Welltower stock traded down $0.03 during midday trading on Wednesday, reaching $95.25. The company had a trading volume of 663,448 shares, compared to its average volume of 2,535,276. The company has a market capitalization of $56.30 billion, a P/E ratio of 117.28, a P/E/G ratio of 2.42 and a beta of 1.08. Welltower has a 12-month low of $72.47 and a 12-month high of $98.19. The firm’s fifty day simple moving average is $92.16 and its 200-day simple moving average is $89.61. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.22 and a quick ratio of 3.22.

Welltower (NYSE:WELL) last released its earnings results on Monday, April 29th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.72). Welltower had a return on equity of 1.85% and a net margin of 6.37%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same period last year, the business earned $0.85 earnings per share. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. As a group, equities analysts anticipate that Welltower will post 4.05 EPS for the current year.

Welltower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, May 13th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Friday, May 10th. Welltower’s dividend payout ratio (DPR) is 301.23%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on WELL shares. Mizuho raised their price target on shares of Welltower from $90.00 to $98.00 and gave the stock a buy rating in a report on Wednesday, January 3rd. Deutsche Bank Aktiengesellschaft started coverage on shares of Welltower in a report on Tuesday, January 30th. They set a buy rating and a $115.00 price target for the company. KeyCorp raised their price target on shares of Welltower from $90.00 to $95.00 and gave the stock an overweight rating in a report on Friday, January 5th. BNP Paribas started coverage on shares of Welltower in a report on Monday, March 18th. They set an outperform rating and a $104.00 price target for the company. Finally, Scotiabank cut their price target on shares of Welltower from $97.00 to $96.00 and set a sector outperform rating for the company in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Welltower presently has an average rating of Moderate Buy and an average price target of $95.57.

About Welltower

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