Welltower (NYSE:WELL) Price Target Raised to $120.00 at Wedbush

Welltower (NYSE:WELL) had its price target lifted by Wedbush from $100.00 to $120.00 in a report published on Monday, Benzinga reports. Wedbush currently has a neutral rating on the real estate investment trust’s stock. Wedbush also issued estimates for Welltower’s FY2024 earnings at $4.20 EPS and FY2025 earnings at $4.65 EPS.

A number of other equities research analysts have also weighed in on WELL. Morgan Stanley raised their price objective on shares of Welltower from $103.00 to $107.50 and gave the company an overweight rating in a report on Thursday, July 11th. StockNews.com upgraded Welltower from a sell rating to a hold rating in a research note on Saturday, August 3rd. Scotiabank upped their price objective on Welltower from $96.00 to $108.00 and gave the stock a sector outperform rating in a research report on Thursday, May 16th. Wells Fargo & Company raised their target price on Welltower from $107.00 to $111.00 and gave the stock an overweight rating in a research report on Thursday, May 30th. Finally, KeyCorp upped their price target on Welltower from $95.00 to $115.00 and gave the company an overweight rating in a report on Tuesday, July 2nd. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $105.88.

Welltower Stock Up 0.8 %

Shares of NYSE WELL opened at $115.73 on Monday. The stock has a market cap of $69.20 billion, a P/E ratio of 142.88, a PEG ratio of 2.74 and a beta of 1.18. The business’s fifty day simple moving average is $106.36 and its 200-day simple moving average is $97.67. Welltower has a 12-month low of $78.38 and a 12-month high of $117.44. The company has a current ratio of 4.07, a quick ratio of 3.83 and a debt-to-equity ratio of 0.47.

Welltower (NYSE:WELL) last posted its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.08. Welltower had a return on equity of 2.21% and a net margin of 8.36%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the company earned $0.90 EPS. Welltower’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, equities analysts predict that Welltower will post 4.16 EPS for the current fiscal year.

Welltower Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 21st. Investors of record on Monday, August 12th will be issued a dividend of $0.67 per share. The ex-dividend date is Monday, August 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.32%. This is a positive change from Welltower’s previous quarterly dividend of $0.61. Welltower’s dividend payout ratio (DPR) is currently 330.86%.

Insider Activity at Welltower

In other Welltower news, Director Kenneth J. Bacon sold 1,800 shares of Welltower stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $103.91, for a total value of $187,038.00. Following the transaction, the director now directly 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 is available at the SEC website. 0.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Welltower

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in Welltower during the 4th quarter worth $2,453,039,000. Capital International Investors raised its holdings in Welltower by 26.4% during the first quarter. Capital International Investors now owns 29,236,326 shares of the real estate investment trust’s stock worth $2,731,842,000 after purchasing an additional 6,104,064 shares in the last quarter. Vanguard Group Inc. raised its holdings in Welltower by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 85,930,671 shares of the real estate investment trust’s stock worth $7,748,369,000 after purchasing an additional 5,173,079 shares in the last quarter. Zimmer Partners LP purchased a new stake in Welltower in the 1st quarter valued at approximately $309,917,000. Finally, Centersquare Investment Management LLC increased its position in Welltower by 19.0% during the 1st quarter. Centersquare Investment Management LLC now owns 5,329,248 shares of the real estate investment trust’s stock worth $507,771,000 after purchasing an additional 849,898 shares during the period. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

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.