Miles Capital Inc. Takes $205,000 Position in Welltower Inc. (HCN)
Miles Capital Inc. purchased a new position in Welltower Inc. (NYSE:HCN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,735 shares of the real estate investment trust’s stock, valued at approximately $205,000.
Several other institutional investors have also made changes to their positions in the business. Uniplan Investment Counsel Inc. grew its position in shares of 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. Vanguard Group Inc. lifted its stake in Welltower by 2.6% in the first quarter. Vanguard Group Inc. now owns 52,225,248 shares of the real estate investment trust’s stock valued at $3,698,592,000 after buying an additional 1,304,013 shares in the last quarter. Standard Life Investments LTD lifted its stake in Welltower by 84.5% in the second 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 buying an additional 1,043,676 shares in the last quarter. Epoch Investment Partners Inc. lifted its stake in Welltower by 15.7% in the first quarter. Epoch Investment Partners Inc. now owns 5,633,662 shares of the real estate investment trust’s stock valued at $398,975,000 after buying an additional 766,140 shares in the last quarter. Finally, Cbre Clarion Securities LLC boosted its holdings in shares of Welltower by 8.3% in the second 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 buying an additional 492,882 shares during the period. Institutional investors own 85.90% of the company’s stock.
HCN has been the topic of a number of research analyst reports. BidaskClub upgraded shares of Welltower from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Royal Bank Of Canada reaffirmed a “hold” rating and set a $72.00 price objective on shares of Welltower in a research report on Monday, June 5th. Bank of America Corporation downgraded Welltower to a “neutral” rating and decreased their price objective for the stock from $78.00 to $77.00 in a report on Friday, September 22nd. Mizuho reiterated a “neutral” rating on shares of Welltower in a report on Wednesday, June 28th. Finally, 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. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $71.93.
Welltower Inc. (NYSE:HCN) traded up 0.309% on Tuesday, reaching $69.765. 216,857 shares of the company’s stock traded hands. The stock has a market cap of $25.73 billion, a price-to-earnings ratio of 21.727 and a beta of 0.24. The company’s 50 day moving average is $72.40 and its 200-day moving average is $72.61. Welltower Inc. has a 52-week low of $59.39 and a 52-week high of $78.17.
Welltower (NYSE:HCN) last posted its quarterly earnings results on Friday, July 28th. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.01. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Welltower had a net margin of 28.94% and a return on equity of 8.74%. During the same quarter in the previous year, the firm posted $0.54 earnings per share. Equities analysts expect that Welltower Inc. will post $2.30 EPS for the current year.
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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