Pitcairn Co. Buys 3,689 Shares of Welltower Inc. (NYSE:WELL)

Pitcairn Co. grew its position in Welltower Inc. (NYSE:WELL) by 130.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,513 shares of the real estate investment trust’s stock after buying an additional 3,689 shares during the period. Pitcairn Co.’s holdings in Welltower were worth $834,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of WELL. Burke & Herbert Bank & Trust Co. bought a new position in Welltower in the 2nd quarter valued at approximately $674,000. Manning & Napier Advisors LLC purchased a new stake in Welltower in the 2nd quarter valued at about $14,766,000. Van Hulzen Asset Management LLC purchased a new stake in shares of Welltower during the second quarter valued at approximately $411,000. Atria Investments Inc raised its stake in shares of Welltower by 19.4% during the 1st quarter. Atria Investments Inc now owns 27,371 shares of the real estate investment trust’s stock worth $2,558,000 after purchasing an additional 4,444 shares during the period. Finally, American Century Companies Inc. raised its position in Welltower by 10.1% in the second quarter. American Century Companies Inc. now owns 1,404,781 shares of the real estate investment trust’s stock worth $146,448,000 after acquiring an additional 129,270 shares during the period. Institutional investors own 94.80% of the company’s stock.

Analyst Upgrades and Downgrades

WELL has been the topic of a number of research reports. Wedbush boosted their price objective on Welltower from $100.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Wolfe Research upgraded shares of Welltower to a “strong-buy” rating in a research report on Friday, August 9th. Royal Bank of Canada raised their price target on Welltower from $101.00 to $114.00 and gave the company a “sector perform” rating in a research report on Friday, August 9th. StockNews.com upgraded shares of Welltower from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Welltower from $115.00 to $137.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.68.

Welltower Stock Performance

Welltower stock opened at $137.91 on Monday. The stock has a market cap of $85.88 billion, a price-to-earnings ratio of 90.73, a PEG ratio of 3.09 and a beta of 1.20. The stock’s 50 day simple moving average is $131.10 and its two-hundred day simple moving average is $117.11. Welltower Inc. has a fifty-two week low of $85.40 and a fifty-two week high of $140.19. The company has a debt-to-equity ratio of 0.51, a quick ratio of 4.10 and a current ratio of 4.10.

Welltower (NYSE:WELL) last announced its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.73 earnings per share 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 business had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter last year, the company posted $0.92 EPS. Welltower’s revenue for the quarter was up 23.7% compared to the same quarter last year. As a group, analysts expect that Welltower Inc. will post 4.3 earnings per share for the current fiscal 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. The ex-dividend date was Wednesday, November 13th. This represents a $2.68 annualized dividend and a yield of 1.94%. Welltower’s dividend payout ratio (DPR) is presently 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.