Convergence Investment Partners LLC bought a new position in Welltower Inc. (NYSE:HCN) during the second quarter, Holdings Channel reports. The institutional investor bought 14,524 shares of the real estate investment trust’s stock, valued at approximately $1,087,000.

Several other hedge funds have also added to or reduced their stakes in the company. Capstone Asset Management Co. increased its position in Welltower by 6.1% in the first quarter. Capstone Asset Management Co. now owns 38,233 shares of the real estate investment trust’s stock valued at $2,708,000 after buying an additional 2,210 shares during the period. Washington Trust Bank increased its position in Welltower by 81.7% in the first quarter. Washington Trust Bank now owns 10,442 shares of the real estate investment trust’s stock valued at $740,000 after buying an additional 4,695 shares during the period. DnB Asset Management AS increased its position in Welltower by 21.2% in the first quarter. DnB Asset Management AS now owns 37,127 shares of the real estate investment trust’s stock valued at $2,629,000 after buying an additional 6,500 shares during the period. Nisa Investment Advisors LLC increased its position in Welltower by 35.6% in the first quarter. Nisa Investment Advisors LLC now owns 88,018 shares of the real estate investment trust’s stock valued at $6,233,000 after buying an additional 23,128 shares during the period. Finally, Lederer & Associates Investment Counsel CA increased its position in Welltower by 13.4% in the first quarter. Lederer & Associates Investment Counsel CA now owns 5,255 shares of the real estate investment trust’s stock valued at $372,000 after buying an additional 620 shares during the period. Institutional investors and hedge funds own 85.15% of the company’s stock.

Welltower Inc. (HCN) opened at 71.24 on Wednesday. Welltower Inc. has a 12 month low of $59.39 and a 12 month high of $78.19. The company’s 50-day moving average is $73.21 and its 200-day moving average is $71.33. The stock has a market capitalization of $26.28 billion, a P/E ratio of 22.19 and a beta of 0.23.

Welltower (NYSE:HCN) last announced its earnings results on Friday, July 28th. The real estate investment trust reported $1.06 EPS for the quarter, topping the consensus estimate of $1.05 by $0.01. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. Welltower had a net margin of 28.94% and a return on equity of 8.74%. During the same period last year, the company posted $0.54 EPS. Equities analysts anticipate that Welltower Inc. will post $2.31 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Tuesday, August 8th will be issued a dividend of $0.87 per share. The ex-dividend date is Friday, August 4th. This represents a $3.48 annualized dividend and a yield of 4.88%. Welltower’s dividend payout ratio (DPR) is currently 108.41%.

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Several research firms have recently weighed in on HCN. BMO Capital Markets reissued a “sell” rating and issued a $68.00 target price on shares of Welltower in a research report on Friday, July 28th. BidaskClub downgraded shares of Welltower from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Mizuho reissued a “neutral” rating on shares of Welltower in a research report on Wednesday, June 28th. Royal Bank Of Canada reissued a “hold” rating and issued a $72.00 target price on shares of Welltower in a research report on Monday, June 5th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $86.00 target price on shares of Welltower in a research report on Monday, May 15th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $72.77.

About Welltower

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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Institutional Ownership by Quarter for Welltower (NYSE:HCN)

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