Allstate Corp Acquires 2,669 Shares of Welltower Inc. $WELL

Key Points

• Allstate Corp increased its stake in Welltower Inc. by 8.0%, acquiring an additional 2,669 shares to bring its total holdings to 36,241 shares valued at approximately $5.55 million.
• Welltower recently reported a quarterly EPS of $1.28, exceeding analysts' estimates, and its revenue rose 39.6% year-over-year to $2.55 billion.
• The company raised its quarterly dividend to $0.74 per share, reflecting an annualized dividend of $2.96 and a yield of 1.8%.

Allstate Corp increased its holdings in Welltower Inc. (NYSE:WELL - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,241 shares of the real estate investment trust's stock after purchasing an additional 2,669 shares during the quarter. Allstate Corp's holdings in Welltower were worth $5,552,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. SouthState Corp increased its stake in shares of Welltower by 704.8% in the first quarter. SouthState Corp now owns 169 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 148 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in Welltower during the 1st quarter valued at approximately $28,000. Smallwood Wealth Investment Management LLC acquired a new stake in Welltower during the 1st quarter valued at approximately $28,000. Hughes Financial Services LLC bought a new position in Welltower during the 1st quarter worth approximately $31,000. Finally, Franchise Capital Ltd acquired a new position in shares of Welltower in the 1st quarter worth approximately $32,000. 94.80% of the stock is owned by institutional investors.

Welltower Price Performance

Shares of NYSE:WELL opened at $166.7630 on Friday. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 0.44. Welltower Inc. has a twelve month low of $116.50 and a twelve month high of $171.09. The stock's 50 day moving average is $159.00 and its 200-day moving average is $152.16. The firm has a market capitalization of $111.54 billion, a price-to-earnings ratio of 94.22, a PEG ratio of 1.87 and a beta of 0.93.

Welltower (NYSE:WELL - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.06. Welltower had a net margin of 12.18% and a return on equity of 3.38%. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the business posted $1.05 EPS. Welltower's quarterly revenue was up 39.6% on a year-over-year basis. Welltower has set its FY 2025 guidance at 5.060-5.14 EPS. Sell-side analysts forecast that Welltower Inc. will post 4.88 EPS for the current fiscal year.

Welltower Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.74 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.96 dividend on an annualized basis and a yield of 1.8%. This is an increase from Welltower's previous quarterly dividend of $0.67. Welltower's dividend payout ratio is presently 167.23%.

Insider Activity at Welltower

In related news, Director Andrew Gundlach bought 20,000 shares of the company's stock in a transaction dated Monday, June 30th. The shares were bought at an average price of $151.46 per share, for a total transaction of $3,029,200.00. Following the completion of the acquisition, the director directly owned 20,000 shares of the company's stock, valued at $3,029,200. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.21% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

WELL has been the subject of several recent analyst reports. Scotiabank reiterated an "outperform" rating on shares of Welltower in a research report on Monday, June 23rd. Evercore ISI lifted their price objective on Welltower from $162.00 to $175.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 30th. Wall Street Zen cut Welltower from a "hold" rating to a "sell" rating in a research note on Thursday, May 8th. Morgan Stanley lifted their target price on Welltower from $155.00 to $160.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Finally, Wells Fargo & Company increased their price target on Welltower from $158.00 to $175.00 and gave the stock an "overweight" rating in a report on Monday, June 2nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $173.10.

About Welltower

Welltower Inc NYSE: WELL, a real estate investment trust ("REIT") and S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. Welltower 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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