Westpac Banking Corp Sells 158,101 Shares of Welltower Inc. (HCN)
Westpac Banking Corp decreased its position in Welltower Inc. (NYSE:HCN) by 23.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 508,533 shares of the real estate investment trust’s stock after selling 158,101 shares during the period. Welltower comprises 0.8% of Westpac Banking Corp’s investment portfolio, making the stock its 17th largest position. Westpac Banking Corp owned 0.14% of Welltower worth $38,064,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Welltower by 3.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 116,746 shares of the real estate investment trust’s stock worth $8,268,000 after buying an additional 4,232 shares during the period. Advisory Services Network LLC purchased a new position in Welltower during the first quarter valued at about $129,000. Advisor Partners LLC raised its position in Welltower by 5.6% in the first quarter. Advisor Partners LLC now owns 5,142 shares of the real estate investment trust’s stock valued at $364,000 after buying an additional 271 shares during the last quarter. Quadrant Capital Management LLC raised its position in Welltower by 2.9% in the first quarter. Quadrant Capital Management LLC now owns 35,458 shares of the real estate investment trust’s stock valued at $2,511,000 after buying an additional 1,000 shares during the last quarter. Finally, Brookstone Capital Management raised its position in Welltower by 17.4% in the first quarter. Brookstone Capital Management now owns 7,598 shares of the real estate investment trust’s stock valued at $538,000 after buying an additional 1,124 shares during the last quarter. Institutional investors own 86.00% of the company’s stock.
Shares of Welltower Inc. (NYSE:HCN) opened at 73.35 on Friday. The firm has a 50-day moving average of $72.35 and a 200-day moving average of $71.75. The company has a market capitalization of $27.06 billion, a P/E ratio of 22.84 and a beta of 0.23. Welltower Inc. has a 12 month low of $59.39 and a 12 month high of $78.19.
Welltower (NYSE:HCN) last released its quarterly earnings data on Friday, July 28th. The real estate investment trust reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.01. The business had revenue of $1.06 billion during 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 period last year, the business earned $0.54 EPS. On average, equities analysts predict that Welltower Inc. will post $2.30 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Tuesday, August 8th were paid a dividend of $0.87 per share. The ex-dividend date of this dividend was Friday, August 4th. This represents a $3.48 dividend on an annualized basis and a yield of 4.75%. Welltower’s dividend payout ratio is currently 108.41%.
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HCN has been the topic of several recent analyst reports. BidaskClub lowered shares of Welltower from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Canaccord Genuity restated a “buy” rating and issued a $86.00 target price on shares of Welltower in a report on Friday, May 5th. Mizuho restated a “neutral” rating on shares of Welltower in a report on Wednesday, June 28th. BMO Capital Markets restated a “sell” rating and issued a $68.00 target price on shares of Welltower in a report on Friday, July 28th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $65.00 target price on shares of Welltower in a report on Friday, May 12th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. Welltower presently has an average rating of “Hold” and an average target price of $72.58.
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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