Suncoast Equity Management Has $337,000 Position in Welltower Inc. (HCN)
Suncoast Equity Management raised its stake in shares of Welltower Inc. (NYSE:HCN) by 24.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,500 shares of the real estate investment trust’s stock after buying an additional 895 shares during the period. Welltower makes up about 0.1% of Suncoast Equity Management’s investment portfolio, making the stock its 26th largest position. Suncoast Equity Management’s holdings in Welltower were worth $337,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of HCN. Bessemer Group Inc. raised its stake in Welltower by 97.6% in the second quarter. Bessemer Group Inc. now owns 1,413 shares of the real estate investment trust’s stock worth $106,000 after buying an additional 698 shares in the last quarter. Trust Co. of Vermont raised its stake in Welltower by 42.7% in the first quarter. Trust Co. of Vermont now owns 1,505 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 450 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Welltower by 13.2% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,813 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 212 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Welltower during the first quarter worth $129,000. Finally, Harbour Capital Advisors LLC raised its stake in Welltower by 7,385.0% in the second quarter. Harbour Capital Advisors LLC now owns 11,452 shares of the real estate investment trust’s stock worth $153,000 after buying an additional 11,299 shares in the last quarter. Institutional investors and hedge funds own 86.00% of the company’s stock.
Shares of Welltower Inc. (NYSE HCN) opened at 71.24 on Tuesday. Welltower Inc. has a one year low of $59.39 and a one year high of $78.19. The stock has a market capitalization of $26.28 billion, a price-to-earnings ratio of 22.19 and a beta of 0.23. The firm has a 50-day moving average of $72.43 and a 200 day moving average of $71.56.
Welltower (NYSE:HCN) last posted its quarterly earnings data on Friday, July 28th. The real estate investment trust reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.01. Welltower had a net margin of 28.94% and a return on equity of 8.74%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm posted $0.54 earnings per share. On average, equities research analysts predict that Welltower Inc. will post $2.30 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Stockholders of record on Tuesday, August 8th were paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 4.88%. The ex-dividend date was Friday, August 4th. Welltower’s payout ratio is 108.41%.
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A number of analysts have recently weighed in on the stock. BMO Capital Markets reiterated a “sell” rating and set a $68.00 target price on shares of Welltower in a report on Friday, July 28th. Mizuho reiterated a “neutral” rating on shares of Welltower in a report on Wednesday, June 28th. BidaskClub lowered shares of Welltower from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Royal Bank Of Canada reiterated a “hold” rating and set a $72.00 target price on shares of Welltower in a report on Wednesday, May 3rd. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $65.00 target price on shares of Welltower in a report on Friday, May 12th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. Welltower has a consensus rating of “Hold” and an average target price of $72.58.
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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