UBS AG Cuts Welltower Inc. (HCN) Price Target to $69.00
Welltower Inc. (NYSE:HCN) had its target price lowered by UBS AG from $71.00 to $69.00 in a report issued on Monday, www.benzinga.com reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.
A number of other equities analysts have also commented on the company. Capital One Financial Corporation began coverage on Welltower in a research note on Monday, September 25th. They issued an equal weight rating and a $74.00 price objective on the stock. Bank of America Corporation lowered Welltower to a neutral rating and dropped their price objective for the stock from $78.00 to $77.00 in a research note on Friday, September 22nd. Royal Bank Of Canada reiterated a hold rating and issued a $74.00 price objective on shares of Welltower in a research note on Wednesday, September 6th. BMO Capital Markets reiterated a sell rating and issued a $68.00 price objective on shares of Welltower in a research note on Friday, July 28th. Finally, BidaskClub downgraded Welltower from a hold rating to a sell rating in a research report on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $72.43.
Welltower (HCN) opened at 68.63 on Monday. Welltower has a one year low of $59.39 and a one year high of $78.17. The stock has a market cap of $25.32 billion, a P/E ratio of 21.37 and a beta of 0.24. The company has a 50-day moving average price of $72.26 and a 200-day moving average price of $72.60.
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, topping analysts’ consensus estimates of $1.05 by $0.01. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Welltower had a return on equity of 8.74% and a net margin of 28.94%. During the same period in the previous year, the company posted $0.54 earnings per share. On average, analysts anticipate that Welltower will post $2.30 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HCN. Bessemer Group Inc. boosted its holdings in Welltower by 97.6% during the second quarter. Bessemer Group Inc. now owns 1,413 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 698 shares in the last quarter. Harbour Capital Advisors LLC boosted its holdings in Welltower by 7,385.0% during the second quarter. Harbour Capital Advisors LLC now owns 11,452 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 11,299 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Welltower during the first quarter valued at approximately $204,000. Appleton Partners Inc. MA acquired a new stake in Welltower during the second quarter valued at approximately $204,000. Finally, Miles Capital Inc. acquired a new stake in Welltower during the second quarter valued at approximately $205,000. 85.90% of the stock is currently owned by institutional investors.
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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