Welltower Inc. (NYSE:WELL) Position Cut by Spinnaker Trust

Spinnaker Trust lowered its holdings in shares of Welltower Inc. (NYSE:WELL) by 1.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,706 shares of the real estate investment trust’s stock after selling 336 shares during the period. Spinnaker Trust’s holdings in Welltower were worth $4,187,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in WELL. Norden Group LLC bought a new position in shares of Welltower in the first quarter valued at approximately $383,000. Janney Montgomery Scott LLC increased its position in shares of Welltower by 5.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 54,666 shares of the real estate investment trust’s stock valued at $5,108,000 after purchasing an additional 3,035 shares during the period. Manchester Capital Management LLC lifted its holdings in shares of Welltower by 338.7% in the first quarter. Manchester Capital Management LLC now owns 329 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 254 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Welltower by 4.4% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 20,869 shares of the real estate investment trust’s stock valued at $1,950,000 after buying an additional 888 shares during the period. Finally, Empowered Funds LLC raised its position in Welltower by 34.8% in the first quarter. Empowered Funds LLC now owns 7,365 shares of the real estate investment trust’s stock worth $688,000 after acquiring an additional 1,901 shares in the last quarter. Institutional investors and hedge funds own 94.80% of the company’s stock.

Welltower Price Performance

Shares of NYSE:WELL traded down $2.25 during midday trading on Wednesday, reaching $132.87. 443,358 shares of the company’s stock were exchanged, compared to its average volume of 2,673,383. The firm has a market capitalization of $82.74 billion, a PE ratio of 88.89, a price-to-earnings-growth ratio of 2.91 and a beta of 1.20. The company’s 50 day simple moving average is $128.01 and its two-hundred day simple moving average is $113.31. Welltower Inc. has a 12 month low of $84.38 and a 12 month high of $139.80. The company has a debt-to-equity ratio of 0.51, a quick ratio of 4.10 and a current ratio of 4.10.

Welltower (NYSE:WELL) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.31). The company had revenue of $2.06 billion during the quarter, compared to analyst estimates of $1.95 billion. Welltower had a return on equity of 3.20% and a net margin of 12.22%. The company’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 earnings per share. Equities research analysts expect that Welltower Inc. will post 4.3 earnings per share for the current fiscal year.

Welltower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Wednesday, November 13th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Wednesday, November 13th. Welltower’s payout ratio is 176.32%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on WELL shares. Deutsche Bank Aktiengesellschaft upped their target price on Welltower from $115.00 to $137.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Wells Fargo & Company restated an “equal weight” rating and issued a $135.00 target price (up previously from $134.00) on shares of Welltower in a research note on Tuesday, October 1st. Scotiabank boosted their price target on Welltower from $121.00 to $133.00 and gave the company a “sector outperform” rating in a research note on Monday, September 23rd. StockNews.com raised shares of Welltower from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Wolfe Research raised shares of Welltower to a “strong-buy” rating in a research report on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.38.

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.