State of Michigan Retirement System Increases Stock Position in Welltower Inc. $WELL

State of Michigan Retirement System increased its holdings in shares of Welltower Inc. (NYSE:WELL) by 7.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 180,909 shares of the real estate investment trust’s stock after purchasing an additional 12,000 shares during the period. State of Michigan Retirement System’s holdings in Welltower were worth $32,227,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in Welltower by 7.1% during the 4th quarter. Brighton Jones LLC now owns 4,185 shares of the real estate investment trust’s stock valued at $527,000 after acquiring an additional 279 shares in the last quarter. Empowered Funds LLC boosted its position in Welltower by 31.7% during the first quarter. Empowered Funds LLC now owns 14,790 shares of the real estate investment trust’s stock valued at $2,266,000 after purchasing an additional 3,564 shares in the last quarter. Sivia Capital Partners LLC boosted its position in Welltower by 7.1% during the second quarter. Sivia Capital Partners LLC now owns 1,910 shares of the real estate investment trust’s stock valued at $294,000 after purchasing an additional 127 shares in the last quarter. DAVENPORT & Co LLC grew its stake in Welltower by 24.8% in the second quarter. DAVENPORT & Co LLC now owns 5,957 shares of the real estate investment trust’s stock valued at $916,000 after purchasing an additional 1,182 shares during the last quarter. Finally, Belpointe Asset Management LLC bought a new position in Welltower in the second quarter worth about $603,000. Institutional investors own 94.80% of the company’s stock.

Welltower Price Performance

NYSE:WELL opened at $196.16 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 5.47 and a quick ratio of 5.47. The company has a 50 day moving average price of $189.33 and a 200-day moving average price of $179.97. Welltower Inc. has a 1-year low of $130.29 and a 1-year high of $209.05. The firm has a market cap of $134.63 billion, a price-to-earnings ratio of 135.28, a price-to-earnings-growth ratio of 1.33 and a beta of 0.85.

Analysts Set New Price Targets

WELL has been the topic of a number of recent analyst reports. UBS Group lowered their price target on shares of Welltower from $232.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Jefferies Financial Group reaffirmed a “buy” rating and set a $231.00 target price on shares of Welltower in a report on Monday, December 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Welltower in a research report on Monday, December 29th. Wells Fargo & Company increased their price objective on shares of Welltower from $200.00 to $218.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. Finally, Scotiabank boosted their target price on shares of Welltower from $182.00 to $214.00 and gave the company a “sector outperform” rating in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.80.

About Welltower

Welltower Inc (NYSE: WELL) is a real estate investment trust (REIT) that acquires and manages real estate serving the health care industry. The company specializes in healthcare infrastructure, owning and operating a diversified portfolio of senior housing, post-acute and long-term care communities, and outpatient medical properties. Welltower’s assets are designed to support the delivery of health care services through a combination of leased properties, joint ventures, and other capital arrangements with health care operators and providers.

The company’s property types include assisted living, memory care, independent living and skilled nursing facilities, as well as medical office buildings and other outpatient-care real estate such as ambulatory surgery centers and specialty clinics.