Welltower (NYSE:WELL) Issues Quarterly Earnings Results

Welltower (NYSE:WELL) announced its quarterly earnings data on Monday. The real estate investment trust reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.08, Zacks reports. Welltower had a return on equity of 2.28% and a net margin of 8.36%. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the previous year, the firm earned $0.90 EPS. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. Welltower updated its FY24 guidance to $4.13-4.21 EPS.

Welltower Trading Down 0.7 %

Shares of NYSE WELL traded down $0.75 on Wednesday, reaching $111.49. 964,826 shares of the company traded hands, compared to its average volume of 2,668,907. Welltower has a fifty-two week low of $78.38 and a fifty-two week high of $115.33. The company has a 50 day moving average of $104.65 and a 200 day moving average of $96.64. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $66.66 billion, a PE ratio of 138.59, a P/E/G ratio of 2.75 and a beta of 1.18.

Welltower Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 21st. Stockholders of record on Monday, August 12th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Monday, August 12th. This is an increase from Welltower’s previous quarterly dividend of $0.61. Welltower’s payout ratio is 301.23%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on WELL shares. Morgan Stanley increased their price target on Welltower from $103.00 to $107.50 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Mizuho boosted their target price on Welltower from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Scotiabank lifted their price target on Welltower from $96.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Thursday, May 16th. KeyCorp boosted their target price on Welltower from $95.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 2nd. Finally, StockNews.com cut Welltower from a “hold” rating to a “sell” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $101.32.

Insider Activity

In other news, Director Kenneth J. Bacon sold 1,800 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $103.91, for a total transaction of $187,038.00. Following the completion of the sale, the director now owns 14,579 shares in the company, valued at approximately $1,514,903.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.12% of the company’s stock.

Welltower Company Profile

Welltower Inc (NYSE:WELL), a REIT and S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. Welltower invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate and infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health care experience.