Welltower (NYSE:WELL) Announces Earnings Results

Welltower (NYSE:WELL) issued its earnings results on Monday. The real estate investment trust reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.08, Zacks reports. Welltower had a return on equity of 1.77% and a net margin of 6.37%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the firm earned $0.90 EPS. Welltower’s revenue was up 9.6% on a year-over-year basis. Welltower updated its FY24 guidance to $4.13-4.21 EPS.

Welltower Price Performance

WELL stock traded up $2.84 during midday trading on Tuesday, hitting $114.49. The company’s stock had a trading volume of 387,428 shares, compared to its average volume of 2,656,023. Welltower has a 12 month low of $78.38 and a 12 month high of $115.19. 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 firm has a market capitalization of $68.46 billion, a price-to-earnings ratio of 137.85, a price-to-earnings-growth ratio of 2.70 and a beta of 1.18. The company has a 50 day moving average of $104.42 and a two-hundred day moving average of $96.50.

Welltower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 21st. Shareholders of record on Monday, August 12th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 2.34%. This is an increase from Welltower’s previous quarterly dividend of $0.61. Welltower’s dividend payout ratio is presently 301.23%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WELL shares. StockNews.com lowered Welltower from a “hold” rating to a “sell” rating in a research report on Friday. Morgan Stanley boosted their price target on Welltower from $103.00 to $107.50 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Evercore ISI boosted their price target on Welltower from $95.00 to $97.00 and gave the company an “in-line” rating in a research note on Tuesday, July 16th. Wells Fargo & Company boosted their price target on Welltower from $107.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Finally, Mizuho boosted their price target on Welltower from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Welltower has an average rating of “Moderate Buy” and a consensus target price of $101.32.

Insiders Place Their Bets

In other news, Director Kenneth J. Bacon sold 1,800 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $103.91, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.12% of the stock is currently owned by corporate insiders.

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.