Citigroup Inc. Sells 854,655 Shares of Welltower Inc. (NYSE:WELL)

Citigroup Inc. cut its stake in shares of Welltower Inc. (NYSE:WELL) by 72.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 317,038 shares of the real estate investment trust’s stock after selling 854,655 shares during the period. Citigroup Inc.’s holdings in Welltower were worth $40,590,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of WELL. First Foundation Advisors bought a new position in shares of Welltower in the second quarter worth approximately $26,000. TruNorth Capital Management LLC bought a new position in shares of Welltower in the second quarter worth approximately $27,000. Meeder Asset Management Inc. bought a new position in Welltower during the second quarter valued at approximately $30,000. Fortitude Family Office LLC grew its position in Welltower by 37.0% during the third quarter. Fortitude Family Office LLC now owns 289 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 78 shares during the last quarter. Finally, Centerpoint Advisors LLC bought a new position in Welltower during the second quarter valued at approximately $31,000. 94.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Royal Bank of Canada increased their price target on shares of Welltower from $101.00 to $114.00 and gave the company a “sector perform” rating in a research report on Friday, August 9th. Wedbush increased their price target on shares of Welltower from $100.00 to $120.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Wells Fargo & Company reiterated an “equal weight” rating and set a $135.00 price target (up from $134.00) on shares of Welltower in a research report on Tuesday, October 1st. Wolfe Research raised Welltower to a “strong-buy” rating in a research note on Friday, August 9th. Finally, Evercore ISI increased their price objective on Welltower from $106.00 to $114.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Welltower has an average rating of “Moderate Buy” and an average target price of $116.68.

Welltower Price Performance

Shares of NYSE:WELL opened at $137.91 on Monday. Welltower Inc. has a 1-year low of $85.40 and a 1-year high of $140.19. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.10 and a quick ratio of 4.10. The business has a fifty day moving average price of $131.10 and a 200-day moving average price of $117.11. The company has a market capitalization of $85.88 billion, a PE ratio of 90.73, a PEG ratio of 3.09 and a beta of 1.20.

Welltower (NYSE:WELL) last issued its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.73 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.31). Welltower had a net margin of 12.22% and a return on equity of 3.20%. The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the previous year, the business earned $0.92 earnings per share. Welltower’s revenue was up 23.7% compared to the same quarter last year. As a group, equities analysts expect that Welltower Inc. will post 4.3 EPS for the current fiscal year.

Welltower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Wednesday, November 13th were issued a $0.67 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $2.68 annualized dividend and a yield of 1.94%. Welltower’s payout ratio is 176.32%.

Welltower Company Profile

Welltower Inc (NYSE:WELL), a real estate investment trust (“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 infrastructure needed to scale innovative care delivery models and improve people’s wellness and overall health care experience.