Welltower’s (HCN) “Buy” Rating Reiterated at Canaccord Genuity
Canaccord Genuity restated their buy rating on shares of Welltower Inc. (NYSE:HCN) in a research note released on Tuesday. Canaccord Genuity currently has a $86.00 price objective on the real estate investment trust’s stock.
Several other analysts also recently commented on HCN. Morgan Stanley downgraded Welltower from an overweight rating to an equal weight rating and set a $69.00 price objective for the company. in a research note on Wednesday, June 22nd. JPMorgan Chase & Co. reissued a hold rating and issued a $72.00 price objective on shares of Welltower in a research note on Thursday, June 30th. RBC Capital Markets reissued a sector perform rating and issued a $77.00 price objective (up from $72.00) on shares of Welltower in a research note on Thursday, August 4th. BTIG Research started coverage on Welltower in a research note on Thursday, August 25th. They issued a neutral rating for the company. Finally, Hilliard Lyons downgraded Welltower from a neutral rating to an underperform rating in a research note on Tuesday, August 2nd. Two equities research 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. Welltower presently has an average rating of Hold and an average target price of $72.25.
Shares of Welltower (NYSE:HCN) opened at 73.19 on Tuesday. The firm has a market capitalization of $26.20 billion, a PE ratio of 39.60 and a beta of 0.43. Welltower has a 12-month low of $52.80 and a 12-month high of $80.19. The company’s 50-day moving average price is $77.09 and its 200 day moving average price is $72.53.
Welltower (NYSE:HCN) last posted its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.01. Welltower had a return on equity of 5.08% and a net margin of 17.15%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the business earned $1.09 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, equities analysts forecast that Welltower will post $4.58 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 22nd. Stockholders of record on Tuesday, August 9th were issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date of this dividend was Friday, August 5th. Welltower’s payout ratio is currently 185.95%.
In related news, COO Jeffrey H. Miller sold 24,777 shares of the stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $78.00, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott A. Estes sold 3,192 shares of the stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $76.43, for a total value of $243,964.56. Following the completion of the sale, the chief financial officer now owns 133,126 shares in the company, valued at approximately $10,174,820.18. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Janney Montgomery Scott LLC increased its stake in shares of Welltower by 23.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 63,783 shares of the real estate investment trust’s stock worth $4,339,000 after buying an additional 12,028 shares during the period. Stifel Financial Corp increased its stake in Welltower by 14.8% in the fourth quarter. Stifel Financial Corp now owns 789,370 shares of the real estate investment trust’s stock worth $52,246,000 after buying an additional 101,660 shares during the last quarter. Virtu Financial LLC purchased a new stake in Welltower during the fourth quarter worth $1,116,000. Reliance Trust Co. of Delaware increased its stake in Welltower by 4.7% in the fourth quarter. Reliance Trust Co. of Delaware now owns 26,372 shares of the real estate investment trust’s stock worth $1,794,000 after buying an additional 1,180 shares during the last quarter. Finally, Valley National Advisers Inc. increased 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 last quarter. 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.