State Treasurer State of Michigan purchased a new stake in Welltower Inc (NYSE:WELL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 110,809 shares of the real estate investment trust’s stock, valued at approximately $7,127,000.
Other large investors have also recently made changes to their positions in the company. Hudock Capital Group LLC bought a new position in Welltower in the 3rd quarter valued at $107,000. Trust Co. of Vermont boosted its holdings in Welltower by 76.5% in the 2nd quarter. Trust Co. of Vermont now owns 2,189 shares of the real estate investment trust’s stock valued at $138,000 after purchasing an additional 949 shares during the period. Atlantic Trust Group LLC bought a new stake in shares of Welltower during the 1st quarter worth $124,000. Whitnell & Co. bought a new stake in shares of Welltower during the 3rd quarter worth $197,000. Finally, Bremer Trust National Association bought a new stake in shares of Welltower during the 3rd quarter worth $205,000. 84.91% of the stock is owned by hedge funds and other institutional investors.
WELL has been the subject of a number of research analyst reports. TheStreet raised shares of Welltower from a “c+” rating to a “b” rating in a report on Friday, July 13th. Stifel Nicolaus set a $66.00 price objective on shares of Welltower and gave the stock a “buy” rating in a report on Monday, July 30th. Stephens reaffirmed a “buy” rating and set a $64.00 price objective on shares of Welltower in a report on Tuesday, July 31st. SunTrust Banks set a $64.00 price objective on shares of Welltower and gave the stock a “hold” rating in a report on Monday, July 30th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $58.00 price objective on shares of Welltower in a report on Monday, July 30th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $63.00.
Welltower (NYSE:WELL) last issued its earnings results on Friday, July 27th. The real estate investment trust reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.58). The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Welltower had a return on equity of 4.95% and a net margin of 13.64%. The company’s revenue was up 6.4% on a year-over-year basis. On average, equities analysts expect that Welltower Inc will post 4.03 EPS for the current year.
Welltower Inc (NYSE:WELL), an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. The company 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.
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