Welltower (NYSE:WELL) Stock Price Target Raised at JPMorgan Chase & Co.

Key Points

• JPMorgan raised its Welltower price target to $273 from $260 and maintained an “overweight” rating, implying about 10% upside from the previous close.
• Analyst sentiment is broadly positive: Welltower has a “Moderate Buy” consensus rating and an average price target of $262.14.
• Welltower beat quarterly earnings and revenue estimates, reporting EPS of $1.67 and revenue of $3.72 billion; revenue grew 38.4% year over year.

Welltower (NYSE:WELL - Get Free Report) had its price target upped by investment analysts at JPMorgan Chase & Co. from $260.00 to $273.00 in a report released on Tuesday, Benzinga reports. The firm currently has an "overweight" rating on the real estate investment trust's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 10.05% from the stock's previous close.

WELL has been the topic of a number of other reports. Robert W. Baird boosted their price target on shares of Welltower from $226.00 to $233.00 and gave the company a "neutral" rating in a research note on Wednesday, August 12th. Royal Bank Of Canada increased their price objective on shares of Welltower from $260.00 to $266.00 and gave the stock an "outperform" rating in a research report on Tuesday. Jefferies Financial Group upgraded shares of Welltower to a "strong-buy" rating in a report on Friday, September 25th. BNP Paribas Exane boosted their target price on Welltower from $238.00 to $272.00 and gave the company an "outperform" rating in a research report on Tuesday, July 28th. Finally, KeyCorp boosted their target price on Welltower from $240.00 to $275.00 and gave the company an "overweight" rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $262.14.

Welltower Price Performance

WELL stock traded up $0.73 during midday trading on Tuesday, reaching $248.08. The stock had a trading volume of 497,398 shares, compared to its average volume of 3,113,387. Welltower has a 52-week low of $181.47 and a 52-week high of $255.20. The company has a current ratio of 3.16, a quick ratio of 3.16 and a debt-to-equity ratio of 0.39. The company's fifty day simple moving average is $234.03 and its 200 day simple moving average is $219.92. The company has a market cap of $181.99 billion, a price-to-earnings ratio of 107.23, a price-to-earnings-growth ratio of 1.18 and a beta of 0.79.

Welltower (NYSE:WELL - Get Free Report) last released its earnings results on Monday, October 26th. The real estate investment trust reported $1.67 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the prior year, the firm earned $1.34 earnings per share. The company's revenue for the quarter was up 38.4% compared to the same quarter last year. As a group, sell-side analysts predict that Welltower will post 6.51 earnings per share for the current fiscal year.

Insider Activity at Welltower

In other news, Director Andrew Gundlach bought 5,000 shares of the business's stock in a transaction dated Wednesday, August 26th. The shares were acquired at an average price of $242.06 per share, for a total transaction of $1,210,300.00. Following the completion of the transaction, the director owned 30,000 shares of the company's stock, valued at approximately $7,261,800. This trade represents a 20.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Welltower by 5.5% during the second quarter. BlackRock Inc. now owns 78,049,214 shares of the real estate investment trust's stock worth $17,714,830,000 after purchasing an additional 4,045,458 shares in the last quarter. State Street Corp boosted its holdings in Welltower by 1.4% in the 2nd quarter. State Street Corp now owns 42,138,810 shares of the real estate investment trust's stock valued at $9,564,246,000 after purchasing an additional 578,033 shares in the last quarter. Bank of America Corp DE increased its position in Welltower by 6.6% during the 1st quarter. Bank of America Corp DE now owns 21,750,501 shares of the real estate investment trust's stock worth $4,300,291,000 after purchasing an additional 1,347,243 shares during the period. Principal Financial Group Inc. increased its position in Welltower by 2.2% during the 2nd quarter. Principal Financial Group Inc. now owns 9,814,621 shares of the real estate investment trust's stock worth $2,227,642,000 after purchasing an additional 207,966 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Welltower by 0.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,345,022 shares of the real estate investment trust's stock worth $1,649,844,000 after purchasing an additional 57,938 shares during the period. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

About Welltower

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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