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

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

Welltower Trading Up 5.2 %

Welltower stock opened at $137.34 on Wednesday. The stock has a 50-day moving average price of $126.35 and a 200 day moving average price of $111.71. The company has a market capitalization of $82.12 billion, a price-to-earnings ratio of 169.56, a price-to-earnings-growth ratio of 2.91 and a beta of 1.21. Welltower has a 52 week low of $80.80 and a 52 week high of $137.73. The company has a quick ratio of 4.07, a current ratio of 4.07 and a debt-to-equity ratio of 0.47.

Welltower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Wednesday, November 13th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Wednesday, November 13th. Welltower’s payout ratio is 330.86%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WELL. Morgan Stanley lifted their price objective on shares of Welltower from $103.00 to $107.50 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $135.00 price target (up from $134.00) on shares of Welltower in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft upped their price target on Welltower from $115.00 to $137.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. StockNews.com cut Welltower from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Finally, Evercore ISI boosted their target price on Welltower from $106.00 to $114.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $115.38.

About Welltower

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.