Summit Global Investments Sells 18,399 Shares of Welltower Inc. $WELL

Summit Global Investments lessened its holdings in shares of Welltower Inc. (NYSE:WELL) by 80.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,381 shares of the real estate investment trust’s stock after selling 18,399 shares during the period. Summit Global Investments’ holdings in Welltower were worth $780,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. AE Wealth Management LLC grew its holdings in Welltower by 5.8% during the 3rd quarter. AE Wealth Management LLC now owns 3,188 shares of the real estate investment trust’s stock worth $568,000 after acquiring an additional 175 shares during the last quarter. Private Wealth Asset Management LLC raised its stake in shares of Welltower by 36.2% in the third quarter. Private Wealth Asset Management LLC now owns 395 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 105 shares during the last quarter. Great Lakes Advisors LLC lifted its position in shares of Welltower by 95.8% during the third quarter. Great Lakes Advisors LLC now owns 6,868 shares of the real estate investment trust’s stock worth $1,224,000 after purchasing an additional 3,361 shares in the last quarter. Fidelis Capital Partners LLC increased its holdings in shares of Welltower by 1.3% in the third quarter. Fidelis Capital Partners LLC now owns 4,697 shares of the real estate investment trust’s stock valued at $837,000 after purchasing an additional 61 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Welltower by 20.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 209,927 shares of the real estate investment trust’s stock worth $37,396,000 after purchasing an additional 35,068 shares during the last quarter. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WELL. Cantor Fitzgerald reiterated an “overweight” rating and issued a $204.00 price objective on shares of Welltower in a research report on Monday, January 5th. UBS Group cut their price target on Welltower from $232.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $205.00 price objective on shares of Welltower in a research report on Thursday, December 18th. Loop Capital set a $196.00 price objective on Welltower in a report on Wednesday, October 29th. Finally, Scotiabank raised their target price on shares of Welltower from $182.00 to $214.00 and gave the company a “sector outperform” rating in a research note on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $204.80.

Welltower Stock Performance

Shares of WELL stock opened at $188.25 on Friday. The stock has a market cap of $129.20 billion, a PE ratio of 129.82, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86. The stock has a 50-day moving average of $190.94 and a 200-day moving average of $179.04. The company has a debt-to-equity ratio of 0.43, a current ratio of 5.47 and a quick ratio of 5.47. Welltower Inc. has a one year low of $130.29 and a one year high of $209.05.

Welltower Profile

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.