CIBC Asset Management Inc Has $5.29 Million Stake in Welltower Inc. (HCN)
CIBC Asset Management Inc lifted its holdings in shares of Welltower Inc. (NYSE:HCN) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,277 shares of the real estate investment trust’s stock after purchasing an additional 1,325 shares during the quarter. CIBC Asset Management Inc’s holdings in Welltower were worth $5,290,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. PGGM Investments grew its stake in Welltower by 112.9% in the 3rd quarter. PGGM Investments now owns 4,768,912 shares of the real estate investment trust’s stock valued at $335,159,000 after buying an additional 2,529,412 shares during the last quarter. Uniplan Investment Counsel Inc. boosted its holdings in Welltower by 311.2% in the 2nd quarter. Uniplan Investment Counsel Inc. now owns 2,883,118 shares of the real estate investment trust’s stock valued at $53,217,000 after purchasing an additional 2,181,913 shares during the period. Standard Life Investments LTD boosted its holdings in Welltower by 84.5% in the 2nd quarter. Standard Life Investments LTD now owns 2,279,176 shares of the real estate investment trust’s stock valued at $170,517,000 after purchasing an additional 1,043,676 shares during the period. Cbre Clarion Securities LLC boosted its holdings in Welltower by 8.3% in the 2nd quarter. Cbre Clarion Securities LLC now owns 6,401,420 shares of the real estate investment trust’s stock valued at $479,146,000 after purchasing an additional 492,882 shares during the period. Finally, Prudential Financial Inc. boosted its holdings in Welltower by 42.7% in the 3rd quarter. Prudential Financial Inc. now owns 1,534,876 shares of the real estate investment trust’s stock valued at $107,871,000 after purchasing an additional 459,593 shares during the period. Institutional investors own 86.23% of the company’s stock.
A number of brokerages have weighed in on HCN. Royal Bank Of Canada reissued a “hold” rating and issued a $74.00 price target on shares of Welltower in a report on Wednesday, September 6th. BMO Capital Markets reissued a “sell” rating and issued a $68.00 price target on shares of Welltower in a report on Friday, July 28th. BidaskClub downgraded shares of Welltower from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Bank of America Corporation downgraded shares of Welltower to a “neutral” rating and reduced their price target for the company from $78.00 to $77.00 in a report on Friday, September 22nd. Finally, Capital One Financial Corporation began coverage on shares of Welltower in a report on Monday, September 25th. They issued an “equal weight” rating and a $74.00 price target for the company. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $72.71.
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Shares of Welltower Inc. (NYSE HCN) traded down $0.23 during mid-day trading on Wednesday, reaching $68.09. 1,378,000 shares of the company traded hands, compared to its average volume of 1,765,329. Welltower Inc. has a 12-month low of $61.08 and a 12-month high of $78.17. The company has a market cap of $25,302.78, a P/E ratio of 15.93, a P/E/G ratio of 4.39 and a beta of 0.24. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.79.
Welltower (NYSE:HCN) last announced its quarterly earnings results on Tuesday, November 7th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.03. Welltower had a net margin of 22.67% and a return on equity of 7.45%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the firm posted $1.16 EPS. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. equities research analysts predict that Welltower Inc. will post 4.23 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Tuesday, November 7th will be issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 5.11%. The ex-dividend date is Monday, November 6th. Welltower’s dividend payout ratio is currently 140.32%.
Welltower Company Profile
Welltower Inc invests with seniors housing operators, post-acute providers and health systems to fund real estate and infrastructure. The Company invests in seniors housing and healthcare real estate. It operates in three segments: triple-net, seniors housing operating and outpatient medical. Welltower, a real estate investment trust (REIT), owns interests in properties concentrated in markets in the United States, Canada and the United Kingdom, consisting of seniors housing and post-acute communities, and outpatient medical properties.
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