State of Alaska Department of Revenue Buys 8,956 Shares of Welltower Inc. (NYSE:WELL)

State of Alaska Department of Revenue boosted its stake in Welltower Inc. (NYSE:WELL) by 2.4% in the first quarter, HoldingsChannel reports. The firm owned 375,363 shares of the real estate investment trust’s stock after acquiring an additional 8,956 shares during the period. Welltower accounts for about 0.7% of State of Alaska Department of Revenue’s holdings, making the stock its 23rd biggest position. State of Alaska Department of Revenue’s holdings in Welltower were worth $57,507,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WELL. Sierra Ocean LLC bought a new position in Welltower during the fourth quarter worth about $28,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Welltower in the 1st quarter valued at approximately $28,000. Franchise Capital Ltd acquired a new stake in shares of Welltower in the 1st quarter valued at approximately $32,000. Capital Advisors Ltd. LLC boosted its stake in Welltower by 57.2% during the 1st quarter. Capital Advisors Ltd. LLC now owns 294 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 107 shares during the last quarter. Finally, First Command Advisory Services Inc. acquired a new position in Welltower during the fourth quarter valued at approximately $50,000. Institutional investors own 94.80% of the company’s stock.

Welltower Stock Up 0.8%

WELL opened at $151.82 on Wednesday. The stock has a fifty day moving average of $149.15 and a 200-day moving average of $142.49. The company has a market capitalization of $99.28 billion, a P/E ratio of 87.25, a P/E/G ratio of 1.75 and a beta of 0.94. Welltower Inc. has a fifty-two week low of $100.13 and a fifty-two week high of $158.55. The company has a debt-to-equity ratio of 0.46, a quick ratio of 4.23 and a current ratio of 4.23.

Welltower (NYSE:WELL) last issued its quarterly earnings results on Monday, April 28th. The real estate investment trust reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.05. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.40 billion. Welltower had a return on equity of 3.41% and a net margin of 12.65%. The firm’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.01 earnings per share. On average, equities analysts expect that Welltower Inc. will post 4.88 EPS for the current year.

Welltower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Wednesday, May 14th were paid a dividend of $0.67 per share. The ex-dividend date was Wednesday, May 14th. This represents a $2.68 dividend on an annualized basis and a yield of 1.77%. Welltower’s payout ratio is 154.02%.

Analyst Upgrades and Downgrades

WELL has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of Welltower from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. Wedbush reaffirmed an “underperform” rating on shares of Welltower in a research note on Thursday, April 17th. Royal Bank Of Canada raised Welltower from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $146.00 to $168.00 in a research note on Friday, February 28th. Wells Fargo & Company increased their price target on Welltower from $158.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, June 2nd. Finally, Bank of America raised their price target on Welltower from $221.00 to $242.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Welltower currently has an average rating of “Moderate Buy” and a consensus target price of $163.25.

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.