Pinnacle Associates Ltd. Has $7.89 Million Stake in Welltower Inc. (NYSE:WELL)

Pinnacle Associates Ltd. boosted its holdings in shares of Welltower Inc. (NYSE:WELL) by 2.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,590 shares of the real estate investment trust’s stock after buying an additional 1,344 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Welltower were worth $7,885,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. First Trust Direct Indexing L.P. increased its position in Welltower by 18.6% during the third quarter. First Trust Direct Indexing L.P. now owns 20,919 shares of the real estate investment trust’s stock worth $2,678,000 after buying an additional 3,285 shares during the last quarter. WestEnd Advisors LLC bought a new stake in Welltower during the third quarter valued at about $22,635,000. Walter & Keenan Wealth Management LLC IN ADV bought a new stake in Welltower during the third quarter valued at about $207,000. Avitas Wealth Management LLC boosted its holdings in Welltower by 1.4% during the third quarter. Avitas Wealth Management LLC now owns 24,160 shares of the real estate investment trust’s stock valued at $3,093,000 after acquiring an additional 340 shares during the period. Finally, Fidelis Capital Partners LLC bought a new stake in Welltower during the third quarter valued at about $222,000. 94.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WELL. Wells Fargo & Company restated an “equal weight” rating and set a $135.00 price target (up from $134.00) on shares of Welltower in a report on Tuesday, October 1st. Evercore ISI upped their price target on shares of Welltower from $106.00 to $114.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Welltower from $115.00 to $137.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Royal Bank of Canada increased their target price on shares of Welltower from $101.00 to $114.00 and gave the company a “sector perform” rating in a research note on Friday, August 9th. Finally, Wedbush increased their target price on shares of Welltower from $100.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $115.38.

Welltower Stock Performance

NYSE:WELL opened at $138.48 on Thursday. Welltower Inc. has a 12-month low of $82.54 and a 12-month high of $139.80. The company has a quick ratio of 4.07, a current ratio of 4.07 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $82.80 billion, a PE ratio of 170.96, a price-to-earnings-growth ratio of 2.91 and a beta of 1.21. The firm has a 50-day moving average price of $126.79 and a 200 day moving average price of $111.90.

Welltower (NYSE:WELL) last posted its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.31). The business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $1.95 billion. Welltower had a return on equity of 2.21% and a net margin of 8.36%. The business’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same period last year, the company earned $0.92 EPS. Research analysts anticipate that Welltower Inc. will post 4.19 earnings per share for the current fiscal year.

Welltower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Wednesday, November 13th. Welltower’s payout ratio is 330.86%.

Welltower Company Profile

Welltower Inc (NYSE:WELL), a real estate investment trust (“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 infrastructure needed to scale innovative care delivery models and improve people’s wellness and overall health care experience.