Avantax Advisory Services Inc. Sells 575 Shares of Welltower Inc. (NYSE:WELL)

Posted by on Jul 25th, 2023

Avantax Advisory Services Inc. trimmed its holdings in Welltower Inc. (NYSE:WELL – Free Report) by 5.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,181 shares of the real estate investment trust’s stock after selling 575 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Welltower were worth $730,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WELL. Dai Ichi Life Insurance Company Ltd increased its stake in Welltower by 0.4% in the first quarter. Dai Ichi Life Insurance Company Ltd now owns 33,012 shares of the real estate investment trust’s stock valued at $3,174,000 after purchasing an additional 125 shares during the last quarter. Cresset Asset Management LLC grew its position in Welltower by 2.5% during the first quarter. Cresset Asset Management LLC now owns 5,044 shares of the real estate investment trust’s stock valued at $485,000 after acquiring an additional 125 shares during the period. Meiji Yasuda Life Insurance Co grew its position in Welltower by 1.1% during the first quarter. Meiji Yasuda Life Insurance Co now owns 11,573 shares of the real estate investment trust’s stock valued at $1,113,000 after acquiring an additional 130 shares during the period. Parallel Advisors LLC grew its position in Welltower by 8.7% during the first quarter. Parallel Advisors LLC now owns 1,708 shares of the real estate investment trust’s stock valued at $122,000 after acquiring an additional 136 shares during the period. Finally, Lido Advisors LLC grew its position in Welltower by 2.0% during the first quarter. Lido Advisors LLC now owns 7,155 shares of the real estate investment trust’s stock valued at $687,000 after acquiring an additional 137 shares during the period. 93.16% of the stock is currently owned by institutional investors.

Welltower Stock Up 0.4 %

WELL opened at $82.65 on Tuesday. Welltower Inc. has a 12 month low of $56.50 and a 12 month high of $86.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.04 and a quick ratio of 2.04. The stock has a market cap of $41.08 billion, a P/E ratio of 359.35, a P/E/G ratio of 3.02 and a beta of 1.06. The stock’s 50 day moving average price is $78.82 and its 200 day moving average price is $75.60.

Welltower (NYSE:WELL – Get Free Report) last posted its earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.05 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.77). Welltower had a net margin of 1.74% and a return on equity of 0.51%. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. The firm’s revenue was up 11.8% compared to the same quarter last year. As a group, research analysts predict that Welltower Inc. will post 3.49 earnings per share for the current year.

Welltower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 23rd. Investors of record on Tuesday, May 16th were given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend was Monday, May 15th. Welltower’s dividend payout ratio is currently 1,060.87%.

Analysts Set New Price Targets

WELL has been the subject of a number of research reports. Evercore ISI raised Welltower from an “in-line” rating to an “outperform” rating and set a $81.00 price target for the company in a research report on Tuesday, April 11th. Raymond James downgraded Welltower from a “strong-buy” rating to an “outperform” rating and increased their price target for the company from $82.00 to $90.00 in a report on Friday, June 23rd. Credit Suisse Group increased their price target on Welltower from $72.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, April 3rd. Wells Fargo & Company started coverage on Welltower in a report on Wednesday, April 19th. They issued an “overweight” rating and a $85.00 price target for the company. Finally, Mizuho reduced their price target on Welltower from $91.00 to $86.00 in a report on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Welltower currently has an average rating of “Moderate Buy” and a consensus target price of $81.36.

Welltower Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Welltower (NYSE:WELL)

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