Welltower Inc. $WELL Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in shares of Welltower Inc. (NYSE:WELL) by 2.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,184,059 shares of the real estate investment trust’s stock after selling 249,605 shares during the period. Welltower comprises 0.9% of Principal Financial Group Inc.’s investment portfolio, making the stock its 16th biggest holding. Principal Financial Group Inc.’s holdings in Welltower were worth $1,814,189,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. State Street Corp increased its holdings in Welltower by 4.6% in the second quarter. State Street Corp now owns 39,616,289 shares of the real estate investment trust’s stock valued at $6,090,212,000 after buying an additional 1,740,196 shares during the last quarter. Norges Bank acquired a new position in shares of Welltower during the 2nd quarter worth about $4,903,554,000. Geode Capital Management LLC increased its holdings in shares of Welltower by 5.1% in the 2nd quarter. Geode Capital Management LLC now owns 15,012,454 shares of the real estate investment trust’s stock valued at $2,303,484,000 after acquiring an additional 723,887 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Welltower by 1.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,898,391 shares of the real estate investment trust’s stock worth $1,214,232,000 after acquiring an additional 149,724 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Welltower by 5.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,329,291 shares of the real estate investment trust’s stock worth $1,126,732,000 after acquiring an additional 372,697 shares in the last quarter. 94.80% of the stock is owned by hedge funds and other institutional investors.

Welltower Stock Up 1.4%

Shares of NYSE:WELL opened at $188.25 on Friday. Welltower Inc. has a 1-year low of $130.29 and a 1-year high of $209.05. 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 stock has a market cap of $129.20 billion, a P/E ratio of 129.82, a P/E/G ratio of 1.29 and a beta of 0.86. The firm has a fifty day moving average price of $190.94 and a 200 day moving average price of $179.04.

Analysts Set New Price Targets

Several equities analysts have commented on WELL shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $204.00 price target on shares of Welltower in a research note on Monday, January 5th. Loop Capital set a $196.00 target price on shares of Welltower in a research report on Wednesday, October 29th. Scotiabank lifted their price target on shares of Welltower from $182.00 to $214.00 and gave the stock a “sector outperform” rating in a research note on Thursday, November 13th. UBS Group decreased their price objective on shares of Welltower from $232.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Finally, Wells Fargo & Company lifted their target price on Welltower from $200.00 to $218.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Welltower currently has an average rating of “Moderate Buy” and an average 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.