Welltower (NYSE:WELL) Hits New 1-Year High - Here's Why

Welltower Inc. (NYSE:WELL - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $139.82 and last traded at $139.66, with a volume of 238246 shares trading hands. The stock had previously closed at $136.92.

Analyst Upgrades and Downgrades

WELL has been the subject of several analyst reports. StockNews.com raised shares of Welltower from a "sell" rating to a "hold" rating in a report on Wednesday, October 30th. Scotiabank lifted their price objective on Welltower from $121.00 to $133.00 and gave the company a "sector outperform" rating in a research note on Monday, September 23rd. Wolfe Research raised Welltower to a "strong-buy" rating in a research report on Friday, August 9th. Royal Bank of Canada upped their price target 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. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and set a $135.00 price target (up previously from $134.00) on shares of Welltower in a report on Tuesday, October 1st. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Welltower has a consensus rating of "Moderate Buy" and an average target price of $115.38.

Welltower Price Performance

The company has a market cap of $86.06 billion, a price-to-earnings ratio of 90.92, a price-to-earnings-growth ratio of 2.99 and a beta of 1.20. The company has a fifty day simple moving average of $128.94 and a two-hundred day simple moving average of $113.94. The company has a quick ratio of 4.10, a current ratio of 4.10 and a debt-to-equity ratio of 0.51.

Welltower (NYSE:WELL - Get Free Report) last posted its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.73 earnings per share for the quarter, missing analysts' consensus estimates of $1.04 by ($0.31). The company had revenue of $2.06 billion for the quarter, compared to analysts' expectations of $1.95 billion. Welltower had a return on equity of 3.20% and a net margin of 12.22%. The business's revenue for the quarter was up 23.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.92 EPS. On average, equities research analysts anticipate that Welltower Inc. will post 4.31 earnings per share for the current fiscal year.

Welltower Dividend Announcement

The firm also recently declared 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 1.94%. The ex-dividend date of this dividend is Wednesday, November 13th. Welltower's dividend payout ratio (DPR) is presently 176.32%.

Institutional Investors Weigh In On Welltower

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WELL. Connors Investor Services Inc. raised its position in shares of Welltower by 10.6% in the first quarter. Connors Investor Services Inc. now owns 117,715 shares of the real estate investment trust's stock valued at $10,999,000 after purchasing an additional 11,238 shares during the period. Centersquare Investment Management LLC grew its holdings in Welltower by 19.0% during the 1st quarter. Centersquare Investment Management LLC now owns 5,329,248 shares of the real estate investment trust's stock worth $507,771,000 after acquiring an additional 849,898 shares during the period. Intech Investment Management LLC increased its holdings in Welltower by 147.9% in the first quarter. Intech Investment Management LLC now owns 22,294 shares of the real estate investment trust's stock valued at $2,083,000 after purchasing an additional 13,300 shares during the last quarter. Burke & Herbert Bank & Trust Co. bought a new stake in shares of Welltower in the 2nd quarter valued at about $674,000. Finally, Manning & Napier Advisors LLC acquired a new stake in Welltower in the second quarter worth $14,766,000. Institutional investors own 94.80% of the company's stock.

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.