Summit Global Investments Cuts Stock Holdings in Welltower Inc. (NYSE:WELL)

Summit Global Investments lessened its holdings in Welltower Inc. (NYSE:WELL) by 16.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,359 shares of the real estate investment trust’s stock after selling 465 shares during the period. Summit Global Investments’ holdings in Welltower were worth $302,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. lifted its holdings in Welltower by 4.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 20,869 shares of the real estate investment trust’s stock worth $1,950,000 after buying an additional 888 shares during the period. Empowered Funds LLC boosted its position in Welltower by 34.8% during the first quarter. Empowered Funds LLC now owns 7,365 shares of the real estate investment trust’s stock valued at $688,000 after purchasing an additional 1,901 shares in the last quarter. Atomi Financial Group Inc. grew its stake in Welltower by 31.0% in the first quarter. Atomi Financial Group Inc. now owns 3,049 shares of the real estate investment trust’s stock valued at $285,000 after purchasing an additional 721 shares during the last quarter. NorthRock Partners LLC raised its holdings in Welltower by 20.5% in the first quarter. NorthRock Partners LLC now owns 3,529 shares of the real estate investment trust’s stock worth $330,000 after purchasing an additional 601 shares in the last quarter. Finally, Meeder Advisory Services Inc. lifted its position in shares of Welltower by 8.9% during the first quarter. Meeder Advisory Services Inc. now owns 8,668 shares of the real estate investment trust’s stock valued at $810,000 after buying an additional 707 shares during the last quarter. 94.80% of the stock is currently owned by institutional investors.

Welltower Stock Up 0.9 %

WELL stock opened at $138.20 on Monday. The company has a market capitalization of $86.06 billion, a P/E ratio of 90.92, a price-to-earnings-growth ratio of 3.10 and a beta of 1.20. Welltower Inc. has a 12 month low of $84.38 and a 12 month high of $140.19. The firm’s fifty day simple moving average is $128.94 and its 200-day simple moving average is $114.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.10 and a quick ratio of 4.10.

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 the consensus estimate of $1.04 by ($0.31). The business had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Welltower had a net margin of 12.22% and a return on equity of 3.20%. Welltower’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 earnings per share. As a group, equities research analysts forecast that Welltower Inc. will post 4.3 earnings per share for the current year.

Welltower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Wednesday, November 13th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Wednesday, November 13th. Welltower’s payout ratio is presently 176.32%.

Wall Street Analysts Forecast Growth

WELL has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Welltower from $115.00 to $137.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Wells Fargo & Company reiterated an “equal weight” rating and set a $135.00 price objective (up previously from $134.00) on shares of Welltower in a report on Tuesday, October 1st. Evercore ISI boosted their target price on Welltower from $106.00 to $114.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Scotiabank increased their price target on Welltower from $121.00 to $133.00 and gave the company a “sector outperform” rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada boosted their price target on Welltower from $101.00 to $114.00 and gave the stock a “sector perform” rating in a research note on Friday, August 9th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $116.68.

Welltower 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.