1832 Asset Management L.P. Purchases 31,300 Shares of Welltower Inc. (NYSE:WELL)

1832 Asset Management L.P. raised its position in shares of Welltower Inc. (NYSE:WELL) by 364.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,900 shares of the real estate investment trust’s stock after acquiring an additional 31,300 shares during the period. 1832 Asset Management L.P.’s holdings in Welltower were worth $3,728,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Rise Advisors LLC bought a new stake in shares of Welltower in the first quarter valued at about $27,000. Manchester Capital Management LLC lifted its stake in shares of Welltower by 338.7% in the first quarter. Manchester Capital Management LLC now owns 329 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 254 shares during the period. Scarborough Advisors LLC bought a new stake in shares of Welltower in the fourth quarter valued at about $35,000. Opal Wealth Advisors LLC bought a new stake in shares of Welltower in the first quarter valued at about $43,000. Finally, Creekmur Asset Management LLC bought a new stake in shares of Welltower in the fourth quarter valued at about $45,000. 94.80% of the stock is currently owned by institutional investors.

Welltower Trading Up 1.2 %

Shares of NYSE WELL traded up $1.29 during midday trading on Friday, reaching $109.78. 2,104,674 shares of the stock were exchanged, compared to its average volume of 2,810,044. The business has a 50-day simple moving average of $104.21 and a two-hundred day simple moving average of $96.31. The company has a market capitalization of $65.64 billion, a price-to-earnings ratio of 135.53, a P/E/G ratio of 2.67 and a beta of 1.18. Welltower Inc. has a 12 month low of $78.38 and a 12 month high of $111.85. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.83 and a quick ratio of 3.83.

Welltower (NYSE:WELL) last announced its quarterly 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). The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.81 billion. Welltower had a return on equity of 1.77% and a net margin of 6.37%. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 earnings per share. As a group, equities research analysts expect that Welltower Inc. will post 4.13 EPS for the current year.

Welltower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Monday, May 13th were given a $0.61 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $2.44 annualized dividend and a yield of 2.22%. Welltower’s dividend payout ratio is currently 301.23%.

Insider Activity at Welltower

In related news, Director Kenneth J. Bacon sold 1,800 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $103.91, for a total value of $187,038.00. Following the sale, the director now directly owns 14,579 shares of the company’s stock, valued at approximately $1,514,903.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.12% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WELL. Morgan Stanley raised their price target on shares of Welltower from $103.00 to $107.50 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Mizuho raised their price target on shares of Welltower from $98.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Scotiabank raised their price objective on shares of Welltower from $96.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 16th. KeyCorp raised their price objective on shares of Welltower from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, July 2nd. Finally, Evercore ISI raised their price objective on shares of Welltower from $95.00 to $97.00 and gave the stock an “in-line” rating in a report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $101.32.

Welltower Company Profile

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.