West Michigan Advisors LLC Takes $216,000 Position in Welltower Inc. (NYSE:WELL)

West Michigan Advisors LLC bought a new position in shares of Welltower Inc. (NYSE:WELL) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,690 shares of the real estate investment trust’s stock, valued at approximately $216,000.

A number of other institutional investors have also recently added to or reduced their stakes in WELL. First Foundation Advisors bought a new stake in shares of Welltower in the 2nd quarter worth $26,000. TruNorth Capital Management LLC acquired a new position in Welltower during the second quarter worth about $27,000. Meeder Asset Management Inc. bought a new stake in Welltower in the second quarter worth about $30,000. Manchester Capital Management LLC lifted its holdings in Welltower by 338.7% in the 1st quarter. Manchester Capital Management LLC now owns 329 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 254 shares during the last quarter. Finally, Centerpoint Advisors LLC bought a new position in shares of Welltower during the 2nd quarter valued at about $31,000. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on WELL shares. Wells Fargo & Company reiterated an “equal weight” rating and issued a $135.00 target price (up from $134.00) on shares of Welltower in a report on Tuesday, October 1st. Scotiabank upped their price target on Welltower from $121.00 to $133.00 and gave the company a “sector outperform” rating in a report on Monday, September 23rd. Royal Bank of Canada raised their price objective on Welltower from $101.00 to $114.00 and gave the stock a “sector perform” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft boosted their target price on Welltower from $115.00 to $137.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Wolfe Research upgraded Welltower to a “strong-buy” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.38.

Welltower Stock Performance

WELL stock opened at $130.20 on Friday. The stock has a market cap of $77.85 billion, a P/E ratio of 160.74, a P/E/G ratio of 2.87 and a beta of 1.21. The company has a debt-to-equity ratio of 0.47, a quick ratio of 4.07 and a current ratio of 4.07. The firm has a 50 day simple moving average of $125.34 and a 200 day simple moving average of $110.55. Welltower Inc. has a 52 week low of $80.80 and a 52 week high of $132.66.

Welltower (NYSE:WELL) last issued its earnings results on Monday, July 29th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.08. Welltower had a net margin of 8.36% and a return on equity of 2.21%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the business posted $0.90 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Research analysts anticipate that Welltower Inc. will post 4.19 earnings per share for the current fiscal year.

Welltower Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Monday, August 12th were paid a dividend of $0.67 per share. The ex-dividend date of this dividend was Monday, August 12th. This is an increase from Welltower’s previous quarterly dividend of $0.61. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.06%. Welltower’s dividend payout ratio (DPR) is 330.86%.

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.