Welltower Inc. (HCN) Holdings Increased by Sun Life Financial INC
Sun Life Financial INC raised its holdings in shares of Welltower Inc. (NYSE:HCN) by 2,134.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,882 shares of the real estate investment trust’s stock after purchasing an additional 6,574 shares during the period. Sun Life Financial INC’s holdings in Welltower were worth $515,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Bessemer Group Inc. boosted its stake in Welltower by 97.6% during the 2nd 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 during the last quarter. Harbour Capital Advisors LLC boosted its stake in Welltower by 7,385.0% during the 2nd 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 during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in Welltower during the 1st quarter valued at $204,000. Appleton Partners Inc. MA purchased a new stake in Welltower during the 2nd quarter valued at $204,000. Finally, Ballentine Partners LLC purchased a new stake in Welltower during the 2nd quarter valued at $210,000. Institutional investors and hedge funds own 85.90% of the company’s stock.
Shares of Welltower Inc. (HCN) traded down 0.43% during trading on Friday, reaching $70.28. The company had a trading volume of 2,062,014 shares. The company’s 50 day moving average is $72.57 and its 200-day moving average is $72.34. The stock has a market capitalization of $25.92 billion, a price-to-earnings ratio of 21.89 and a beta of 0.24. Welltower Inc. has a 1-year low of $59.39 and a 1-year 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 EPS for the quarter, beating the 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 company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the company earned $0.54 earnings per share. On average, equities research analysts anticipate that Welltower Inc. will post $2.30 earnings per share for the current year.
Several brokerages have commented on HCN. Capital One Financial Corporation began coverage on Welltower in a research note on Monday, September 25th. They set an “equal weight” rating and a $74.00 target price on the stock. Bank of America Corporation downgraded Welltower to a “neutral” rating and cut their target price for the company from $78.00 to $77.00 in a research note on Friday, September 22nd. BMO Capital Markets reiterated a “sell” rating and set a $68.00 target price on shares of Welltower in a research note on Friday, July 28th. Mizuho reiterated a “neutral” rating on shares of Welltower in a research note on Wednesday, June 28th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $74.00 target price on shares of Welltower in a research note on Wednesday, September 6th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $72.15.
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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