Ingalls & Snyder LLC Reduces Stock Position in Welltower Inc. (NYSE:WELL)

Ingalls & Snyder LLC cut its stake in shares of Welltower Inc. (NYSE:WELL) by 1.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,246 shares of the real estate investment trust’s stock after selling 80 shares during the period. Ingalls & Snyder LLC’s holdings in Welltower were worth $800,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Burke & Herbert Bank & Trust Co. purchased a new stake in Welltower during the second quarter valued at approximately $674,000. Manning & Napier Advisors LLC purchased a new position in Welltower during the second quarter valued at $14,766,000. Van Hulzen Asset Management LLC bought a new stake in Welltower during the second quarter valued at about $411,000. American Century Companies Inc. grew its holdings in Welltower by 10.1% during the second quarter. American Century Companies Inc. now owns 1,404,781 shares of the real estate investment trust’s stock valued at $146,448,000 after purchasing an additional 129,270 shares during the period. Finally, Diversified Trust Co increased its position in Welltower by 93.8% in the third quarter. Diversified Trust Co now owns 18,474 shares of the real estate investment trust’s stock worth $2,365,000 after buying an additional 8,940 shares in the last quarter. 94.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada increased their target price on shares of Welltower from $101.00 to $114.00 and gave the stock a “sector perform” rating in a report on Friday, August 9th. StockNews.com upgraded shares of Welltower from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Wolfe Research raised shares of Welltower to a “strong-buy” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised their price target on Welltower from $115.00 to $137.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, Scotiabank upped their price objective on Welltower from $133.00 to $142.00 and gave the stock a “sector outperform” rating in a research note on Monday, November 25th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $117.50.

Welltower Price Performance

Shares of WELL stock opened at $132.86 on Wednesday. The stock has a 50 day moving average price of $132.45 and a 200 day moving average price of $118.93. Welltower Inc. has a 52-week low of $85.40 and a 52-week high of $140.75. The company has a debt-to-equity ratio of 0.51, a quick ratio of 4.10 and a current ratio of 4.10. The firm has a market capitalization of $82.73 billion, a P/E ratio of 87.41, a P/E/G ratio of 3.01 and a beta of 1.20.

Welltower (NYSE:WELL) last posted its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.31). Welltower had a return on equity of 3.20% and a net margin of 12.22%. The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. As a group, sell-side analysts predict that Welltower Inc. will post 4.3 earnings per share for the current year.

Welltower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Wednesday, November 13th were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Wednesday, November 13th. Welltower’s dividend payout ratio is 176.32%.

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.