State Treasurer State of Michigan increased its stake in shares of Welltower Inc. (NYSE:HCN) by 1.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 120,309 shares of the real estate investment trust’s stock after buying an additional 1,200 shares during the period. State Treasurer State of Michigan’s holdings in Welltower were worth $9,005,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in HCN. Vanguard Group Inc. boosted its stake in shares of Welltower by 2.6% in the first quarter. Vanguard Group Inc. now owns 52,225,248 shares of the real estate investment trust’s stock valued at $3,698,592,000 after buying an additional 1,304,013 shares in the last quarter. Epoch Investment Partners Inc. boosted its stake in shares of Welltower by 15.7% in the first quarter. Epoch Investment Partners Inc. now owns 5,633,662 shares of the real estate investment trust’s stock valued at $398,975,000 after buying an additional 766,140 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Welltower by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 4,915,979 shares of the real estate investment trust’s stock valued at $348,149,000 after buying an additional 80,273 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Welltower by 8.1% in the first quarter. Geode Capital Management LLC now owns 4,162,790 shares of the real estate investment trust’s stock valued at $294,452,000 after buying an additional 313,209 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Welltower by 3.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 2,773,974 shares of the real estate investment trust’s stock valued at $196,453,000 after buying an additional 88,028 shares in the last quarter. 85.62% of the stock is owned by institutional investors.
Shares of Welltower Inc. (HCN) opened at 71.92 on Tuesday. Welltower Inc. has a 1-year low of $59.39 and a 1-year high of $79.42. The company’s 50-day moving average is $74.50 and its 200 day moving average is $71.00. The firm has a market capitalization of $26.53 billion, a price-to-earnings ratio of 22.40 and a beta of 0.23.
Welltower (NYSE:HCN) last issued its quarterly earnings results on Friday, July 28th. The real estate investment trust reported $1.06 EPS for the quarter, topping the consensus estimate of $1.05 by $0.01. Welltower had a net margin of 28.94% and a return on equity of 8.74%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the company earned $0.54 EPS. On average, analysts expect that Welltower Inc. will post $2.31 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Tuesday, August 8th will be given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 4.84%. The ex-dividend date is Friday, August 4th. Welltower’s dividend payout ratio is 108.41%.
HCN has been the subject of a number of research reports. BidaskClub cut shares of Welltower from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Evercore ISI lowered shares of Welltower from an “in-line” rating to an “underperform” rating in a research note on Monday, April 24th. Canaccord Genuity restated a “buy” rating and issued a $86.00 target price on shares of Welltower in a research report on Friday, May 5th. Mizuho reiterated a “neutral” rating on shares of Welltower in a report on Wednesday, June 28th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $72.00 price objective on shares of Welltower in a report on Wednesday, May 3rd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $73.29.
About Welltower
Welltower Inc invests with seniors housing operators, post-acute providers and health systems to fund real estate and infrastructure. The Company invests in seniors housing and healthcare real estate. It operates in three segments: triple-net, seniors housing operating and outpatient medical. Welltower, a real estate investment trust (REIT), owns interests in properties concentrated in markets in the United States, Canada and the United Kingdom, consisting of seniors housing and post-acute communities, and outpatient medical properties.
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