Welltower Inc. (NYSE:HCN) Receives Average Recommendation of “Hold” from Brokerages
Shares of Welltower Inc. (NYSE:HCN) have been given a consensus rating of “Hold” by the twenty analysts that are currently covering the company. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $73.85.
Several research analysts have weighed in on HCN shares. RBC Capital Markets reissued a “sector perform” rating and issued a $77.00 price objective (up previously from $72.00) on shares of Welltower in a research report on Thursday, August 4th. Wells Fargo & Co. reissued a “buy” rating on shares of Welltower in a research report on Sunday, September 4th. Royal Bank Of Canada boosted their price objective on Welltower from $72.00 to $77.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 4th. Stephens started coverage on Welltower in a research report on Wednesday, September 14th. They issued an “overweight” rating and a $86.00 price objective on the stock. Finally, Canaccord Genuity boosted their price objective on Welltower from $79.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, August 15th.
In related news, CFO Scott A. Estes sold 3,192 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $78.97, for a total transaction of $252,072.24. Following the completion of the transaction, the chief financial officer now directly owns 133,126 shares in the company, valued at $10,512,960.22. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Scott A. Estes sold 3,193 shares of the company’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $76.39, for a total value of $243,913.27. Following the completion of the transaction, the chief financial officer now owns 133,127 shares of the company’s stock, valued at $10,169,571.53. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.
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Several institutional investors have recently bought and sold shares of the company. Washington Trust Bank boosted its position in Welltower by 11.1% in the second quarter. Washington Trust Bank now owns 1,498 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 150 shares during the last quarter. Nikko Asset Management Americas Inc. purchased a new position in Welltower during the first quarter worth about $124,000. Pennsylvania Trust Co purchased a new position in Welltower during the second quarter worth about $202,000. Sawtooth Asset Management Inc. purchased a new position in Welltower during the second quarter worth about $205,000. Finally, Appleton Partners Inc. MA purchased a new position in Welltower during the second quarter worth about $208,000. Hedge funds and other institutional investors own 87.85% of the company’s stock.
Welltower (NYSE:HCN) traded down 0.71% during mid-day trading on Wednesday, hitting $72.66. The stock had a trading volume of 1,235,749 shares. The company’s 50 day moving average is $76.36 and its 200-day moving average is $72.80. The stock has a market capitalization of $26.01 billion, a P/E ratio of 39.32 and a beta of 0.43. Welltower has a 52 week low of $52.80 and a 52 week high of $80.19.
Welltower (NYSE:HCN) last announced its earnings results on Tuesday, August 2nd. The real estate investment trust reported $1.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.01. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Welltower had a return on equity of 5.08% and a net margin of 17.15%. Welltower’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.09 earnings per share. On average, analysts expect that Welltower will post $4.58 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 22nd. Investors of record on Tuesday, August 9th were given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 4.70%. The ex-dividend date was Friday, August 5th. Welltower’s payout ratio is 185.95%.
Welltower Inc, formerly Health Care REIT, Inc, is a provider of healthcare infrastructure. The Company operates through three segments: triple-net, which includes independent living facilities, independent supportive living facilities (Canada), continuing care retirement communities, assisted living facilities, care homes with and without nursing (United Kingdom), Alzheimer’s/dementia care facilities, long-term/post-acute care facilities and hospitals; seniors housing operating, which includes a range of facility types, including independent living facilities and independent supportive living facilities, assisted living facilities, care homes and Alzheimer’s/dementia care facilities, and outpatient medical, which includes outpatient medical buildings.
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