Summit Financial Group Inc. increased its stake in Welltower Inc (NYSE:WELL) by 218.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,641 shares of the real estate investment trust’s stock after purchasing an additional 7,301 shares during the period. Summit Financial Group Inc.’s holdings in Welltower were worth $825,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Clarfeld Financial Advisors LLC purchased a new stake in Welltower in the fourth quarter worth $27,000. JNBA Financial Advisors bought a new position in Welltower in the fourth quarter worth $28,000. Portfolio Solutions LLC bought a new position in Welltower in the fourth quarter worth $34,000. Oregon Public Employees Retirement Fund raised its holdings in Welltower by 6,756.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,807,357 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 2,766,411 shares in the last quarter. Finally, Berman Capital Advisors LLC bought a new position in Welltower in the fourth quarter worth $43,000. Institutional investors own 84.86% of the company’s stock.
Shares of WELL stock opened at $73.75 on Friday. Welltower Inc has a twelve month low of $49.60 and a twelve month high of $79.41. The firm has a market capitalization of $29.05 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 3.07 and a beta of 0.46. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.64 and a quick ratio of 1.64.
In related news, EVP Mercedes Kerr sold 5,000 shares of Welltower stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $74.50, for a total value of $372,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.15% of the company’s stock.
A number of research firms have issued reports on WELL. Raymond James increased their price objective on Welltower from $75.00 to $78.00 and gave the stock an “outperform” rating in a report on Tuesday, February 26th. They noted that the move was a valuation call. Deutsche Bank increased their price objective on Welltower from $61.00 to $71.00 and gave the stock a “hold” rating in a report on Friday, March 29th. Mitsubishi UFJ Financial Group increased their price objective on Welltower to $82.00 and gave the stock an “overweight” rating in a report on Wednesday, February 13th. Citigroup increased their price objective on Welltower from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, February 14th. Finally, Royal Bank of Canada raised their price target on Welltower to $76.00 and gave the company a “sector perform” rating in a report on Thursday, February 21st. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $71.29.
Welltower Company Profile
Welltower Inc (NYSE: WELL), an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. The company 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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