Westpac Banking Corp decreased its position in Welltower Inc. (NYSE:WELL – Free Report) by 5.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,410 shares of the real estate investment trust’s stock after selling 4,181 shares during the period. Welltower comprises approximately 1.0% of Westpac Banking Corp’s portfolio, making the stock its 13th biggest holding. Westpac Banking Corp’s holdings in Welltower were worth $13,723,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Welltower in the fourth quarter valued at $5,466,264,000. Cardano Risk Management B.V. lifted its position in shares of Welltower by 955.3% during the 4th quarter. Cardano Risk Management B.V. now owns 9,513,540 shares of the real estate investment trust’s stock valued at $1,765,808,000 after buying an additional 8,612,016 shares during the last quarter. Capital World Investors grew its stake in shares of Welltower by 153.0% during the 4th quarter. Capital World Investors now owns 10,744,520 shares of the real estate investment trust’s stock worth $1,994,290,000 after acquiring an additional 6,497,258 shares during the period. Vanguard Group Inc. grew its stake in shares of Welltower by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 92,421,471 shares of the real estate investment trust’s stock worth $17,154,349,000 after acquiring an additional 2,643,088 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Welltower by 11.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,826,035 shares of the real estate investment trust’s stock worth $3,123,082,000 after acquiring an additional 1,734,922 shares during the last quarter. 94.80% of the stock is owned by institutional investors.
Welltower Stock Up 0.7%
WELL stock opened at $246.59 on Wednesday. The company’s 50 day moving average is $219.89 and its 200 day moving average is $207.69. The stock has a market cap of $174.07 billion, a price-to-earnings ratio of 122.07, a price-to-earnings-growth ratio of 1.20 and a beta of 0.77. The company has a current ratio of 4.31, a quick ratio of 4.31 and a debt-to-equity ratio of 0.40. Welltower Inc. has a 1-year low of $158.24 and a 1-year high of $247.45.
Welltower Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Wednesday, May 13th were given a $0.74 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $2.96 annualized dividend and a yield of 1.2%. Welltower’s payout ratio is 146.53%.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Welltower from $228.00 to $237.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Citigroup increased their target price on shares of Welltower from $245.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Jefferies Financial Group lifted their target price on shares of Welltower from $237.00 to $248.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Weiss Ratings lowered shares of Welltower from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 24th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $238.00 price objective on shares of Welltower in a report on Monday, June 15th. Thirteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $234.72.
Get Our Latest Stock Report on WELL
Welltower Company Profile
Welltower Inc (NYSE: WELL) is a real estate investment trust (REIT) that acquires and manages real estate serving the health care industry. The company specializes in healthcare infrastructure, owning and operating a diversified portfolio of senior housing, post-acute and long-term care communities, and outpatient medical properties. Welltower’s assets are designed to support the delivery of health care services through a combination of leased properties, joint ventures, and other capital arrangements with health care operators and providers.
The company’s property types include assisted living, memory care, independent living and skilled nursing facilities, as well as medical office buildings and other outpatient-care real estate such as ambulatory surgery centers and specialty clinics.
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