Red Cedar Investment Management LLC Buys 15,547 Shares of Welltower Inc. (NYSE:WELL)

Red Cedar Investment Management LLC raised its holdings in Welltower Inc. (NYSE:WELL) by 209.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,986 shares of the real estate investment trust’s stock after buying an additional 15,547 shares during the quarter. Red Cedar Investment Management LLC’s holdings in Welltower were worth $2,943,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. First Foundation Advisors purchased a new position in shares of Welltower in the 2nd quarter valued at approximately $26,000. TruNorth Capital Management LLC purchased a new position in shares of Welltower in the 2nd quarter valued at approximately $27,000. Meeder Asset Management Inc. purchased a new position in shares of Welltower in the 2nd quarter valued at approximately $30,000. Manchester Capital Management LLC lifted its stake in shares of Welltower by 338.7% in the 1st quarter. Manchester Capital Management LLC now owns 329 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 254 shares during the period. Finally, Centerpoint Advisors LLC purchased a new position in shares of Welltower in the 2nd quarter valued at approximately $31,000. 94.80% of the stock is currently owned by institutional investors.

Welltower Price Performance

Shares of NYSE:WELL traded up $1.22 during mid-day trading on Monday, reaching $134.49. The stock had a trading volume of 308,843 shares, compared to its average volume of 2,676,540. The company has a market cap of $83.75 billion, a P/E ratio of 87.68, a price-to-earnings-growth ratio of 2.94 and a beta of 1.20. The business’s 50 day moving average price is $127.41 and its 200 day moving average price is $112.69. Welltower Inc. has a 1 year low of $84.38 and a 1 year high of $139.80. The company has a current ratio of 4.10, a quick ratio of 4.07 and a debt-to-equity ratio of 0.51.

Welltower (NYSE:WELL) last released its 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 net margin of 12.22% and a return on equity of 3.20%. The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the prior year, the company posted $0.92 EPS. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. Research analysts expect that Welltower Inc. will post 4.3 EPS for the current fiscal year.

Welltower Announces Dividend

The firm 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. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $2.68 annualized dividend and a dividend yield of 1.99%. Welltower’s dividend payout ratio is presently 176.32%.

Wall Street Analysts Forecast Growth

WELL has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on Welltower from $115.00 to $137.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Royal Bank of Canada raised their target price on Welltower from $101.00 to $114.00 and gave the company a “sector perform” rating in a research note on Friday, August 9th. StockNews.com upgraded Welltower from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Wolfe Research raised Welltower to a “strong-buy” rating in a report on Friday, August 9th. Finally, Wedbush lifted their price objective on Welltower from $100.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Welltower presently has an average rating of “Moderate Buy” and an average target price of $115.38.

About Welltower

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.