Pinnbrook Capital Management LP acquired a new position in shares of Welltower Inc. (NYSE:WELL – Free Report) in the second quarter, Holdings Channel.com reports. The firm acquired 25,500 shares of the real estate investment trust’s stock, valued at approximately $5,788,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in WELL. Leonteq Securities AG increased its stake in shares of Welltower by 92.3% during the first quarter. Leonteq Securities AG now owns 125 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 60 shares in the last quarter. Sound Income Strategies LLC raised its position in shares of Welltower by 124.6% during the 1st quarter. Sound Income Strategies LLC now owns 137 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 76 shares during the last quarter. Kilter Group LLC purchased a new position in Welltower in the 2nd quarter valued at about $29,000. Swiss RE Ltd. purchased a new position in Welltower in the 4th quarter valued at about $29,000. Finally, Quarry LP acquired a new stake in Welltower in the 3rd quarter worth about $33,000. 94.80% of the stock is owned by hedge funds and other institutional investors.
Welltower Stock Up 1.1%
Shares of NYSE WELL opened at $239.95 on Friday. The stock has a market cap of $172.94 billion, a PE ratio of 110.07, a P/E/G ratio of 1.14 and a beta of 0.76. The company has a current ratio of 3.16, a quick ratio of 3.16 and a debt-to-equity ratio of 0.37. Welltower Inc. has a 12-month low of $163.75 and a 12-month high of $255.20. The company has a 50-day moving average of $232.48 and a 200 day moving average of $215.83.
Welltower Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Wednesday, August 12th were given a dividend of $0.85 per share. The ex-dividend date was Wednesday, August 12th. This is a positive change from Welltower’s previous quarterly dividend of $0.74. This represents a $3.40 dividend on an annualized basis and a yield of 1.4%. Welltower’s dividend payout ratio (DPR) is 155.96%.
Analysts Set New Price Targets
WELL has been the subject of several research reports. Wells Fargo & Company boosted their price objective on Welltower from $228.00 to $237.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Evercore restated an “outperform” rating and issued a $260.00 target price on shares of Welltower in a research report on Thursday, July 30th. UBS Group lifted their price target on Welltower from $249.00 to $271.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Mizuho boosted their price target on Welltower from $239.00 to $260.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Welltower from $215.00 to $265.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $246.11.
Read Our Latest Analysis on Welltower
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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