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

Welltower (NYSE:WELL) had its target price boosted by Wedbush from $100.00 to $120.00 in a research report sent to investors on Monday, Benzinga reports. The firm 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 issued reports on the stock. StockNews.com upgraded shares of Welltower from a sell rating to a hold rating in a report on Saturday, August 3rd. Mizuho raised their price objective on Welltower from $98.00 to $105.00 and gave the stock a buy rating in a research report on Wednesday, May 8th. KeyCorp upped their target price on Welltower from $95.00 to $115.00 and gave the company an overweight rating in a report on Tuesday, July 2nd. Scotiabank raised their price target on shares of Welltower from $96.00 to $108.00 and gave the stock a sector outperform rating in a report on Thursday, May 16th. Finally, Morgan Stanley upped their price objective on shares of Welltower from $103.00 to $107.50 and gave the company an overweight rating in a research note on Thursday, July 11th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Welltower presently has a consensus rating of Moderate Buy and a consensus price target of $105.88.

Welltower Stock Up 0.8 %

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

Welltower (NYSE:WELL) last announced its earnings results on Monday, July 29th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.08. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.89 billion. Welltower had a return on equity of 2.21% and a net margin of 8.36%. Welltower’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.90 earnings per share. On average, 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. 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 2.32%. The ex-dividend date of this dividend is Monday, August 12th. This is an increase from Welltower’s previous quarterly dividend of $0.61. Welltower’s dividend payout ratio is 330.86%.

Insider Activity

In other Welltower news, Director Kenneth J. Bacon sold 1,800 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $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. 0.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. First Foundation Advisors bought a new position in shares of Welltower in the second quarter worth about $26,000. Rise Advisors LLC acquired a new stake in Welltower in the 1st quarter valued at approximately $27,000. TruNorth Capital Management LLC bought a new position in Welltower in the 2nd quarter worth approximately $27,000. Meeder Asset Management Inc. acquired a new position in shares of Welltower during the second quarter worth approximately $30,000. Finally, Manchester Capital Management LLC boosted its position in shares of Welltower by 338.7% in the first quarter. Manchester Capital Management LLC now owns 329 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 254 shares during the period. Institutional investors and hedge funds own 94.80% of the company’s stock.

About Welltower

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.