New Mexico Educational Retirement Board trimmed its position in shares of Welltower Inc (NYSE:WELL) by 1.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,298 shares of the real estate investment trust’s stock after selling 400 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Welltower were worth $2,429,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Massey Quick Simon & CO. LLC bought a new position in shares of Welltower during the 1st quarter worth $31,000. Leavell Investment Management Inc. bought a new position in Welltower in the 1st quarter worth about $202,000. Pennsylvania Trust Co boosted its stake in Welltower by 6,880.7% in the 1st quarter. Pennsylvania Trust Co now owns 216,403 shares of the real estate investment trust’s stock worth $23,063,000 after purchasing an additional 213,303 shares during the period. KMG Fiduciary Partners LLC boosted its stake in Welltower by 4.3% in the 1st quarter. KMG Fiduciary Partners LLC now owns 77,017 shares of the real estate investment trust’s stock worth $5,976,000 after purchasing an additional 3,165 shares during the period. Finally, Weather Gauge Advisory LLC bought a new position in Welltower in the 1st quarter worth about $984,000. 86.04% of the stock is currently owned by institutional investors.
Shares of WELL stock traded up $1.45 during trading hours on Friday, reaching $77.53. The company’s stock had a trading volume of 1,085,032 shares, compared to its average volume of 1,382,010. The firm has a market cap of $30.81 billion, a P/E ratio of 19.24, a P/E/G ratio of 3.21 and a beta of 0.43. Welltower Inc has a one year low of $53.53 and a one year high of $79.41. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.84 and a current ratio of 1.84.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $3.48 annualized dividend and a dividend yield of 4.49%. Welltower’s dividend payout ratio is presently 86.35%.
In related news, EVP Mercedes Kerr sold 5,000 shares of Welltower stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $74.50, for a total transaction of $372,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.15% of the company’s stock.
A number of analysts have recently issued reports on WELL shares. BMO Capital Markets upgraded Welltower from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $73.00 to $86.00 in a research report on Tuesday. Deutsche Bank lifted their price target on Welltower from $61.00 to $71.00 and gave the company a “hold” rating in a research report on Friday, March 29th. Morgan Stanley lifted their price target on Welltower from $77.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Raymond James lifted their price target on Welltower from $75.00 to $78.00 and gave the company an “outperform” rating in a research report on Tuesday, February 26th. They noted that the move was a valuation call. Finally, Royal Bank of Canada raised their price objective on Welltower to $76.00 and gave the company a “sector perform” rating in a report on Thursday, February 21st. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $73.29.
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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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