IBM Retirement Fund boosted its stake in Welltower Inc. (NYSE:HCN) by 124.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 8,962 shares of the real estate investment trust’s stock after buying an additional 4,972 shares during the period. IBM Retirement Fund’s holdings in Welltower were worth $750,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Welch & Forbes LLC boosted its stake in shares of Welltower by 0.5% in the first quarter. Welch & Forbes LLC now owns 3,070 shares of the real estate investment trust’s stock valued at $217,000 after buying an additional 15 shares during the period. Smith Moore & CO. boosted its stake in shares of Welltower by 0.5% in the first quarter. Smith Moore & CO. now owns 4,005 shares of the real estate investment trust’s stock valued at $284,000 after buying an additional 19 shares during the period. Farmers & Merchants Investments Inc. boosted its stake in shares of Welltower by 0.6% in the second quarter. Farmers & Merchants Investments Inc. now owns 5,030 shares of the real estate investment trust’s stock valued at $376,000 after buying an additional 30 shares during the period. First Heartland Consultants Inc. boosted its stake in shares of Welltower by 0.6% in the second quarter. First Heartland Consultants Inc. now owns 5,690 shares of the real estate investment trust’s stock valued at $426,000 after buying an additional 33 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in shares of Welltower by 0.9% in the first quarter. Mackenzie Financial Corp now owns 4,469 shares of the real estate investment trust’s stock valued at $316,000 after buying an additional 38 shares during the period. Institutional investors own 85.62% of the company’s stock.
Shares of Welltower Inc. (HCN) traded down 0.28% during midday trading on Friday, hitting $70.40. 1,346,528 shares of the stock were exchanged. The stock’s 50-day moving average price is $73.55 and its 200 day moving average price is $71.18. Welltower Inc. has a one year low of $59.39 and a one year high of $78.71. The stock has a market cap of $25.97 billion, a P/E ratio of 21.92 and a beta of 0.23.
Welltower (NYSE:HCN) last posted its quarterly earnings data on Friday, July 28th. The real estate investment trust reported $1.06 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.04 billion. During the same period in the prior year, the firm earned $0.54 earnings per share. On average, analysts anticipate that Welltower Inc. will post $2.31 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Tuesday, August 8th will be paid a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date is Friday, August 4th. Welltower’s dividend payout ratio is presently 108.41%.
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Several analysts recently commented on HCN shares. Evercore ISI cut shares of Welltower from an “in-line” rating to an “underperform” rating in a research note on Monday, April 24th. BidaskClub upgraded shares of Welltower from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Canaccord Genuity reiterated a “buy” rating and issued a $86.00 price objective on shares of Welltower in a research note on Monday, May 15th. Royal Bank Of Canada reiterated a “hold” rating and issued a $72.00 price objective on shares of Welltower in a research note on Monday, June 5th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $65.00 price objective on shares of Welltower in a research note on Friday, May 12th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $72.77.
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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