Welltower (NYSE:WELL) Price Target Raised to $121.00

Welltower (NYSE:WELL) had its price objective raised by Scotiabank from $116.00 to $121.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s price target indicates a potential upside of 4.25% from the stock’s current price.

WELL has been the topic of several other reports. StockNews.com raised Welltower from a “sell” rating to a “hold” rating in a report on Saturday. Wedbush raised their target price on shares of Welltower from $100.00 to $120.00 and gave the company a “neutral” rating in a report on Monday. Evercore ISI boosted their target price on shares of Welltower from $95.00 to $97.00 and gave the company an “in-line” rating in a research report on Tuesday, July 16th. Mizuho increased their price target on shares of Welltower from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, KeyCorp boosted their price objective 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. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $105.88.

Welltower Stock Performance

Shares of WELL traded up $1.11 during midday trading on Wednesday, reaching $116.07. 1,546,961 shares of the stock were exchanged, compared to its average volume of 2,690,647. The company has a quick ratio of 3.83, a current ratio of 4.07 and a debt-to-equity ratio of 0.47. The stock’s 50 day simple moving average is $105.81 and its 200 day simple moving average is $97.42. Welltower has a twelve month low of $78.38 and a twelve month high of $117.44. The company has a market cap of $70.70 billion, a P/E ratio of 143.30, a PEG ratio of 2.74 and a beta of 1.18.

Welltower (NYSE:WELL) last posted its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.08. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.89 billion. Welltower had a net margin of 8.36% and a return on equity of 2.21%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 EPS. On average, sell-side analysts expect that Welltower will post 4.16 earnings per share for the current year.

Insider Activity at Welltower

In related news, Director Kenneth J. Bacon sold 1,800 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $103.91, for a total value of $187,038.00. Following the sale, the director now directly owns 14,579 shares in the company, valued at $1,514,903.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.12% of the stock is owned by company insiders.

Institutional Trading of Welltower

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WELL. Coldstream Capital Management Inc. lifted its position in shares of Welltower by 13.5% during the second quarter. Coldstream Capital Management Inc. now owns 9,274 shares of the real estate investment trust’s stock valued at $967,000 after purchasing an additional 1,104 shares in the last quarter. Van Hulzen Asset Management LLC purchased a new position in shares of Welltower in the 2nd quarter worth approximately $411,000. Andra AP fonden grew its holdings in shares of Welltower by 85.5% in the second quarter. Andra AP fonden now owns 138,200 shares of the real estate investment trust’s stock valued at $14,407,000 after acquiring an additional 63,700 shares in the last quarter. Royal London Asset Management Ltd. increased its position in shares of Welltower by 8.5% during the 2nd quarter. Royal London Asset Management Ltd. now owns 232,457 shares of the real estate investment trust’s stock valued at $24,234,000 after purchasing an additional 18,247 shares during the last quarter. Finally, Global X Japan Co. Ltd. bought a new stake in Welltower in the second quarter worth about $148,000. 94.80% of the stock is owned by institutional investors.

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.