Evercore ISI Boosts Welltower (NYSE:WELL) Price Target to $97.00

Welltower (NYSE:WELL) had its price objective hoisted by Evercore ISI from $95.00 to $97.00 in a research report sent to investors on Tuesday, Benzinga reports. The firm currently has an in-line rating on the real estate investment trust’s stock.

Other equities research analysts also recently issued research reports about the company. KeyCorp increased their price target on Welltower from $95.00 to $115.00 and gave the stock an overweight rating in a research report on Tuesday, July 2nd. BNP Paribas began coverage on Welltower in a research report on Monday, March 18th. They set an outperform rating and a $104.00 price target on the stock. Morgan Stanley increased their price target on Welltower from $103.00 to $107.50 and gave the stock an overweight rating in a research report on Thursday, July 11th. Mizuho increased their price target on Welltower from $98.00 to $105.00 and gave the stock a buy rating in a research report on Wednesday, May 8th. Finally, Scotiabank upped their target price on Welltower from $96.00 to $108.00 and gave the stock a sector outperform rating in a research note on Thursday, May 16th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Welltower currently has an average rating of Moderate Buy and a consensus price target of $101.32.

Welltower Price Performance

NYSE:WELL opened at $107.41 on Tuesday. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.50. The stock’s 50 day moving average price is $103.32 and its two-hundred day moving average price is $95.57. The firm has a market capitalization of $64.22 billion, a price-to-earnings ratio of 132.60, a P/E/G ratio of 2.63 and a beta of 1.18. Welltower has a 12-month low of $78.38 and a 12-month high of $108.06.

Welltower (NYSE:WELL) last released its quarterly earnings data on Monday, April 29th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.72). The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.81 billion. Welltower had a net margin of 6.37% and a return on equity of 1.77%. Welltower’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 EPS. On average, analysts anticipate that Welltower will post 4.13 earnings per share for the current year.

Welltower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Monday, May 13th were given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Friday, May 10th. Welltower’s dividend payout ratio is currently 301.23%.

Insiders Place Their Bets

In other Welltower news, Director Kenneth J. Bacon sold 1,800 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $103.91, for a total transaction of $187,038.00. Following the completion of the sale, the director now directly owns 14,579 shares in the company, valued at approximately $1,514,903.89. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.12% of the company’s stock.

Institutional Trading of Welltower

Several large investors have recently made changes to their positions in the company. RDA Financial Network boosted its stake in Welltower by 0.6% during the 2nd quarter. RDA Financial Network now owns 16,161 shares of the real estate investment trust’s stock valued at $1,685,000 after purchasing an additional 104 shares during the last quarter. Trueblood Wealth Management LLC boosted its stake in Welltower by 1.2% during the 1st quarter. Trueblood Wealth Management LLC now owns 9,061 shares of the real estate investment trust’s stock valued at $847,000 after purchasing an additional 109 shares during the last quarter. Simplicity Wealth LLC boosted its stake in Welltower by 0.9% during the 2nd quarter. Simplicity Wealth LLC now owns 12,155 shares of the real estate investment trust’s stock valued at $1,267,000 after purchasing an additional 113 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in Welltower by 21.2% during the 4th quarter. First Horizon Advisors Inc. now owns 691 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 121 shares during the last quarter. Finally, Graypoint LLC boosted its stake in Welltower by 4.8% during the 1st quarter. Graypoint LLC now owns 2,687 shares of the real estate investment trust’s stock valued at $251,000 after purchasing an additional 122 shares during the last quarter. 94.80% of the stock is currently owned by institutional investors and hedge funds.

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.