Welltower (NYSE:WELL) Issues Earnings Results, Misses Expectations By $0.31 EPS

Welltower (NYSE:WELL - Get Free Report) issued its quarterly earnings data on Monday. The real estate investment trust reported $0.73 earnings per share for the quarter, missing analysts' consensus estimates of $1.04 by ($0.31), Zacks reports. Welltower had a return on equity of 2.21% and a net margin of 8.36%. The firm had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. The company's revenue was up 23.7% on a year-over-year basis. Welltower updated its FY24 guidance to $4.27-$4.33 EPS and its FY 2024 guidance to 4.270-4.330 EPS.

Welltower Stock Performance

Shares of Welltower stock traded up $6.77 during midday trading on Tuesday, hitting $137.34. The company had a trading volume of 4,117,313 shares, compared to its average volume of 2,679,277. Welltower has a 1-year low of $80.80 and a 1-year high of $137.73. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.07 and a quick ratio of 4.07. The business's 50 day simple moving average is $126.35 and its two-hundred day simple moving average is $111.71. The stock has a market cap of $82.12 billion, a PE ratio of 169.56, a P/E/G ratio of 2.91 and a beta of 1.21.

Welltower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.67 per share. The ex-dividend date is Wednesday, November 13th. This represents a $2.68 dividend on an annualized basis and a yield of 1.95%. Welltower's payout ratio is currently 330.86%.

Wall Street Analysts Forecast Growth

WELL has been the topic of a number of recent analyst reports. Evercore ISI increased their price objective on Welltower from $106.00 to $114.00 and gave the stock an "in-line" rating in a research report on Monday, September 16th. Wolfe Research upgraded shares of Welltower to a "strong-buy" rating in a report on Friday, August 9th. Royal Bank of Canada boosted their price objective on shares of Welltower from $101.00 to $114.00 and gave the company a "sector perform" rating in a research report on Friday, August 9th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $135.00 price target (up previously from $134.00) on shares of Welltower in a research note on Tuesday, October 1st. Finally, KeyCorp increased their price target on shares of Welltower from $95.00 to $115.00 and gave the company an "overweight" rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.