TrinityPoint Wealth LLC Grows Stock Holdings in Welltower Inc. (NYSE:WELL)

TrinityPoint Wealth LLC increased its position in shares of Welltower Inc. (NYSE:WELL) by 252.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 10,068 shares of the real estate investment trust’s stock after acquiring an additional 7,215 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Welltower were worth $1,289,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC increased its position in shares of Welltower by 37.0% during the 3rd quarter. Fortitude Family Office LLC now owns 289 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 78 shares during the last quarter. Old North State Wealth Management LLC grew its stake in Welltower by 0.6% during the 3rd quarter. Old North State Wealth Management LLC now owns 12,864 shares of the real estate investment trust’s stock worth $1,648,000 after purchasing an additional 78 shares in the last quarter. Frank Rimerman Advisors LLC increased its position in shares of Welltower by 0.9% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 9,617 shares of the real estate investment trust’s stock valued at $1,231,000 after purchasing an additional 82 shares during the last quarter. Valeo Financial Advisors LLC increased its holdings in shares of Welltower by 2.6% in the 3rd quarter. Valeo Financial Advisors LLC now owns 3,668 shares of the real estate investment trust’s stock valued at $470,000 after acquiring an additional 94 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its stake in Welltower by 14.1% during the 3rd quarter. GHP Investment Advisors Inc. now owns 775 shares of the real estate investment trust’s stock worth $99,000 after acquiring an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada upped their target price on shares of Welltower from $101.00 to $114.00 and gave the company a “sector perform” rating in a report on Friday, August 9th. Evercore ISI upped their target price on Welltower from $106.00 to $114.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Scotiabank raised their price target on Welltower from $121.00 to $133.00 and gave the stock a “sector outperform” rating in a research report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft increased their price target on Welltower from $115.00 to $137.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $135.00 target price (up from $134.00) on shares of Welltower in a research report on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $116.68.

Welltower Stock Performance

Shares of NYSE:WELL opened at $136.02 on Monday. The company has a market cap of $84.70 billion, a P/E ratio of 89.49, a PEG ratio of 3.05 and a beta of 1.20. Welltower Inc. has a one year low of $85.40 and a one year high of $140.19. The business’s 50-day simple moving average is $130.20 and its 200 day simple moving average is $115.67. 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 posted its earnings results on Monday, October 28th. The real estate investment trust reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.31). Welltower had a return on equity of 3.20% and a net margin of 12.22%. The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period in the previous year, the firm posted $0.92 earnings per share. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. On average, sell-side analysts forecast that Welltower Inc. will post 4.3 earnings per share for the current fiscal year.

Welltower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Wednesday, November 13th. Welltower’s payout ratio is 176.32%.

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.