Welltower (NYSE:WELL) Issues FY24 Earnings Guidance

Welltower (NYSE:WELL) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $4.13-4.21 for the period, compared to the consensus EPS estimate of $4.12.

Welltower Stock Up 1.9 %

Shares of Welltower stock traded up $2.11 during trading hours on Monday, reaching $111.89. The company’s stock had a trading volume of 2,507,948 shares, compared to its average volume of 2,666,160. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.83 and a current ratio of 3.83. The stock’s fifty day simple moving average is $104.21 and its two-hundred day simple moving average is $96.35. The company has a market capitalization of $66.90 billion, a P/E ratio of 135.53, a P/E/G ratio of 2.70 and a beta of 1.18. Welltower has a one year low of $78.38 and a one year high of $112.16.

Welltower (NYSE:WELL) last posted its earnings results on Monday, April 29th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.72). The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.81 billion. Welltower had a net margin of 6.37% and a return on equity of 1.77%. The firm’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 EPS. On average, research analysts forecast that Welltower will post 4.13 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Mizuho upped their price objective on Welltower from $98.00 to $105.00 and gave the company a buy rating in a research note on Wednesday, May 8th. Scotiabank increased their target price on shares of Welltower from $96.00 to $108.00 and gave the stock a sector outperform rating in a research report on Thursday, May 16th. KeyCorp boosted their price target on shares of Welltower from $95.00 to $115.00 and gave the company an overweight rating in a research report on Tuesday, July 2nd. Wells Fargo & Company raised their price objective on shares of Welltower from $107.00 to $111.00 and gave the stock an overweight rating in a report on Thursday, May 30th. Finally, Evercore ISI lifted their target price on Welltower from $95.00 to $97.00 and gave the company an in-line rating in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $101.32.

Insider Buying and Selling at Welltower

In related news, Director Kenneth J. Bacon sold 1,800 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $103.91, for a total value of $187,038.00. Following the transaction, the director now owns 14,579 shares of the company’s stock, valued at approximately $1,514,903.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.12% of the stock is currently owned by corporate insiders.

About Welltower

Welltower Inc (NYSE:WELL), a 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 and infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health care experience.