Welltower (NYSE:WELL) Given New $266.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised Welltower’s price target to $266 from $260 and maintained an “outperform” rating, implying 7.66% upside from the prior close.
• Analyst sentiment is broadly positive: Welltower has a “Moderate Buy” consensus rating and an average price target of $260.10, though some firms hold or downgraded the stock.
• Welltower’s latest quarterly results topped estimates, with EPS of $1.67 versus $1.64 expected and revenue up 38.4% year over year to $3.72 billion.

Welltower (NYSE:WELL - Get Free Report) had its price target hoisted by stock analysts at Royal Bank Of Canada from $260.00 to $266.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an "outperform" rating on the real estate investment trust's stock. Royal Bank Of Canada's price objective indicates a potential upside of 7.66% from the company's previous close.

A number of other research firms have also issued reports on WELL. BMO Capital Markets increased their target price on Welltower from $245.00 to $265.00 and gave the company an "outperform" rating in a research note on Monday, August 3rd. Barclays dropped their target price on Welltower from $259.00 to $246.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 13th. Scotiabank boosted their price target on Welltower from $244.00 to $251.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 2nd. Weiss Ratings cut Welltower from a "buy (b-)" rating to a "hold (c)" rating in a report on Wednesday, October 28th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $263.00 price objective on shares of Welltower in a research report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $260.10.

Welltower Trading Down 0.1%

WELL traded down $0.27 on Tuesday, reaching $247.09. 393,695 shares of the company's stock were exchanged, compared to its average volume of 3,112,943. The company's 50 day moving average is $234.03 and its 200-day moving average is $219.92. The company has a market cap of $181.26 billion, a price-to-earnings ratio of 106.84, a PEG ratio of 1.18 and a beta of 0.79. Welltower has a twelve month low of $181.47 and a twelve month high of $255.20. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.16 and a current ratio of 3.16.

Welltower (NYSE:WELL - Get Free Report) last announced its quarterly earnings results on Monday, October 26th. The real estate investment trust reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.64 by $0.03. Welltower had a net margin of 12.08% and a return on equity of 3.61%. The firm had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.64 billion. During the same period in the previous year, the company posted $1.34 earnings per share. Welltower's revenue was up 38.4% compared to the same quarter last year. Equities analysts predict that Welltower will post 6.51 earnings per share for the current year.

Insider Activity

In other Welltower news, Director Andrew Gundlach bought 5,000 shares of Welltower stock in a transaction dated Wednesday, August 26th. The stock was bought at an average cost of $242.06 per share, for a total transaction of $1,210,300.00. Following the purchase, the director owned 30,000 shares in the company, valued at $7,261,800. This represents a 20.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Purchased indirectly through two trusts. The transaction was executed in multiple trades at prices ranging from $241.59 to $242.59. The reported $242.06 price is the weighted-average purchase price. 0.37% of the stock is currently owned by insiders.

Institutional Trading of Welltower

A number of hedge funds and other institutional investors have recently made changes to their positions in WELL. Edgestream Partners L.P. bought a new stake in Welltower during the 3rd quarter valued at approximately $919,000. Banco Santander S.A. grew its holdings in Welltower by 3.6% in the 3rd quarter. Banco Santander S.A. now owns 178,032 shares of the real estate investment trust's stock valued at $40,990,000 after buying an additional 6,231 shares during the last quarter. Morse Asset Management Inc grew its holdings in Welltower by 34.1% in the 3rd quarter. Morse Asset Management Inc now owns 283 shares of the real estate investment trust's stock valued at $65,000 after buying an additional 72 shares during the last quarter. Silver Oak Securities Incorporated increased its position in Welltower by 11.5% in the 3rd quarter. Silver Oak Securities Incorporated now owns 5,551 shares of the real estate investment trust's stock worth $1,360,000 after buying an additional 574 shares during the period. Finally, Wall Street Financial Group Inc. bought a new position in Welltower in the 3rd quarter worth approximately $220,000. Institutional investors own 94.80% of the company's stock.

Welltower Company Profile

Welltower Inc is a real estate investment trust focused on properties and services that support health care and aging. Its portfolio includes senior housing communities, outpatient medical facilities and post-acute care properties.

The company works with senior housing operators, health care providers and other partners to own, lease and manage properties. Its operations span the United States, Canada and the United Kingdom.

Founded in 1970 as Health Care REIT, the company adopted the Welltower name in 2015.

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