First Citizens Bank & Trust Co. Trims Holdings in Welltower Inc (HCN)
First Citizens Bank & Trust Co. trimmed its holdings in shares of Welltower Inc (NYSE:HCN) by 19.0% during the fourth quarter, Holdings Channel reports. The fund owned 20,897 shares of the real estate investment trust’s stock after selling 4,894 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Welltower were worth $1,333,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Spectrum Management Group Inc. bought a new stake in Welltower during the 3rd quarter worth approximately $100,000. Wealthcare Advisory Partners LLC bought a new stake in Welltower during the 3rd quarter worth approximately $101,000. San Francisco Sentry Investment Group CA grew its holdings in Welltower by 1,048.5% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 1,539 shares of the real estate investment trust’s stock worth $108,000 after acquiring an additional 1,405 shares during the last quarter. Hudock Capital Group LLC grew its holdings in Welltower by 543.7% during the 3rd quarter. Hudock Capital Group LLC now owns 2,002 shares of the real estate investment trust’s stock worth $140,000 after acquiring an additional 1,691 shares during the last quarter. Finally, Miles Capital Inc. bought a new stake in Welltower during the 2nd quarter worth approximately $205,000. 86.35% of the stock is currently owned by hedge funds and other institutional investors.
Welltower Inc (NYSE HCN) opened at $60.17 on Friday. The stock has a market cap of $22,200.00, a P/E ratio of 52.78, a PEG ratio of 4.13 and a beta of 0.25. Welltower Inc has a 1 year low of $60.14 and a 1 year high of $78.17. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.76 and a quick ratio of 1.76.
Welltower (NYSE:HCN) last issued its quarterly earnings results on Tuesday, November 7th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.03. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.06 billion. Welltower had a net margin of 22.67% and a return on equity of 7.45%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.16 EPS. equities research analysts forecast that Welltower Inc will post 4.24 earnings per share for the current fiscal year.
In related news, Director Gary Whitelaw bought 1,420 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were bought at an average price of $68.39 per share, for a total transaction of $97,113.80. Following the transaction, the director now directly owns 1,420 shares of the company’s stock, valued at $97,113.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is owned by insiders.
A number of equities research analysts have weighed in on HCN shares. Bank of America lowered shares of Welltower to a “neutral” rating and reduced their target price for the stock from $78.00 to $77.00 in a report on Friday, September 22nd. Capital One Financial began coverage on shares of Welltower in a research report on Monday, September 25th. They issued an “equal weight” rating and a $74.00 price target on the stock. UBS Group dropped their price target on shares of Welltower from $71.00 to $69.00 and set a “neutral” rating on the stock in a research report on Monday, October 2nd. Jefferies Group restated a “hold” rating and issued a $72.00 price target on shares of Welltower in a research report on Tuesday, October 3rd. Finally, Royal Bank of Canada restated a “hold” rating and issued a $74.00 price target on shares of Welltower in a research report on Tuesday, October 10th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $73.17.
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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