Glassy Mountain Advisors Inc. purchased a new position in shares of Welltower Inc. (NYSE:WELL – Get Rating) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,416 shares of the real estate investment trust’s stock, valued at approximately $93,000.
A number of other hedge funds also recently modified their holdings of WELL. Vanguard Group Inc. raised its position in Welltower by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 74,487,135 shares of the real estate investment trust’s stock valued at $4,791,012,000 after buying an additional 1,674,989 shares during the last quarter. Cohen & Steers Inc. raised its position in Welltower by 17.6% in the 3rd quarter. Cohen & Steers Inc. now owns 40,144,429 shares of the real estate investment trust’s stock valued at $2,581,775,000 after buying an additional 6,010,798 shares during the last quarter. State Street Corp raised its position in Welltower by 3.3% in the 2nd quarter. State Street Corp now owns 31,161,238 shares of the real estate investment trust’s stock valued at $2,566,128,000 after buying an additional 988,063 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Welltower by 21.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 8,564,103 shares of the real estate investment trust’s stock valued at $550,843,000 after buying an additional 1,485,253 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Welltower by 2.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,281,662 shares of the real estate investment trust’s stock valued at $404,030,000 after buying an additional 143,331 shares during the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on WELL. Mizuho dropped their target price on Welltower from $93.00 to $91.00 in a research report on Friday, December 2nd. StockNews.com started coverage on Welltower in a research note on Thursday. They issued a “sell” rating for the company. Raymond James upgraded Welltower from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $72.00 to $82.00 in a research note on Monday, January 9th. Barclays raised their price target on Welltower from $78.00 to $82.00 and gave the company an “overweight” rating in a research note on Tuesday, January 17th. Finally, Evercore ISI downgraded Welltower from an “outperform” rating to an “in-line” rating and set a $72.00 price target for the company. in a research note on Monday, November 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.56.
Welltower Stock Performance
Welltower Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 8th. Investors of record on Tuesday, February 28th were paid a $0.61 dividend. The ex-dividend date was Monday, February 27th. This represents a $2.44 annualized dividend and a yield of 3.55%. Welltower’s dividend payout ratio (DPR) is presently 762.52%.
Welltower, Inc engages in the provision of health care infrastructure and investment of seniors housing operators, post-acute providers, and health systems. It operates through the following segments: Seniors Housing Operating, Triple-net, and Outpatient Medical. The Seniors Housing Operating segment includes the seniors housing communities.
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