Welltower’s (HCN) “Buy” Rating Reiterated at Canaccord Genuity
Canaccord Genuity reiterated their buy rating on shares of Welltower Inc. (NYSE:HCN) in a report issued on Tuesday morning. Canaccord Genuity currently has a $86.00 price objective on the real estate investment trust’s stock.
Other equities research analysts have also issued reports about the stock. Wells Fargo & Co. reiterated a buy rating on shares of Welltower in a research note on Sunday, September 4th. Morgan Stanley lowered shares of Welltower from an overweight rating to an equal weight rating and set a $69.00 target price for the company. in a research note on Wednesday, June 22nd. JPMorgan Chase & Co. reiterated a hold rating and set a $72.00 target price on shares of Welltower in a research note on Thursday, June 30th. Citigroup Inc. boosted their price objective on shares of Welltower from $70.00 to $73.00 and gave the company a neutral rating in a research report on Thursday, July 7th. Finally, BTIG Research began coverage on shares of Welltower in a research report on Thursday, August 25th. They set a neutral rating for the company. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $72.25.
Shares of Welltower (NYSE:HCN) opened at 73.19 on Tuesday. Welltower has a 52-week low of $52.80 and a 52-week high of $80.19. The firm’s 50-day moving average price is $77.09 and its 200-day moving average price is $72.53. The stock has a market cap of $26.20 billion, a P/E ratio of 39.60 and a beta of 0.43.
Welltower (NYSE:HCN) last announced its earnings results on Tuesday, August 2nd. The real estate investment trust reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.01. The business earned $1.08 billion during the quarter, compared to analyst estimates of $1.04 billion. Welltower had a net margin of 17.15% and a return on equity of 5.08%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 EPS. Equities analysts predict that Welltower will post $4.58 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 22nd. Stockholders of record on Tuesday, August 9th were given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 4.70%. The ex-dividend date was Friday, August 5th. Welltower’s dividend payout ratio is 185.95%.
In other news, CFO Scott A. Estes sold 3,193 shares of the company’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $76.39, for a total transaction of $243,913.27. Following the sale, the chief financial officer now directly owns 133,127 shares in the company, valued at approximately $10,169,571.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey H. Miller sold 24,777 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $78.00, for a total transaction of $1,932,606.00. Following the sale, the chief operating officer now owns 136,095 shares in the company, valued at $10,615,410. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc boosted its stake in shares of Welltower by 4.3% in the first quarter. Legal & General Group Plc now owns 2,337,565 shares of the real estate investment trust’s stock valued at $162,085,000 after buying an additional 97,360 shares in the last quarter. Trust Co. of Toledo NA OH raised its stake in Welltower by 1.0% in the second quarter. Trust Co. of Toledo NA OH now owns 135,366 shares of the real estate investment trust’s stock worth $10,311,000 after buying an additional 1,385 shares during the period. Silvercrest Asset Management Group LLC raised its stake in Welltower by 120.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 50,599 shares of the real estate investment trust’s stock worth $3,509,000 after buying an additional 27,659 shares during the period. Windward Capital Management Co. CA raised its stake in Welltower by 2.8% in the second quarter. Windward Capital Management Co. CA now owns 3,655 shares of the real estate investment trust’s stock worth $278,000 after buying an additional 99 shares during the period. Finally, Valley National Advisers Inc. raised its stake in Welltower by 12.7% in the fourth quarter. Valley National Advisers Inc. now owns 23,372 shares of the real estate investment trust’s stock worth $1,590,000 after buying an additional 2,638 shares during the period. Hedge funds and other institutional investors own 88.02% of the company’s stock.
Welltower Inc, formerly Health Care REIT, Inc, is a provider of healthcare infrastructure. The Company operates through three segments: triple-net, which includes independent living facilities, independent supportive living facilities (Canada), continuing care retirement communities, assisted living facilities, care homes with and without nursing (United Kingdom), Alzheimer’s/dementia care facilities, long-term/post-acute care facilities and hospitals; seniors housing operating, which includes a range of facility types, including independent living facilities and independent supportive living facilities, assisted living facilities, care homes and Alzheimer’s/dementia care facilities, and outpatient medical, which includes outpatient medical buildings.
Receive News & Ratings for Welltower Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Welltower Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.