Citigroup Inc. Acquires 309,832 Shares of Welltower Inc. (NYSE:WELL)

Key Points

• Citigroup Inc. increased its stake in Welltower Inc. (NYSE: WELL) by 57.9%, owning 844,809 shares worth approximately $129.43 million after acquiring additional shares in the first quarter.
• Welltower recently announced a quarterly dividend increase from $0.67 to $0.74 per share, reflecting strong financial performance with a revenue up by 39.6% compared to the previous year.
• Wall Street analysts have mixed ratings on Welltower; while some maintain a strong buy outlook, consensus ratings suggest a "Moderate Buy" with a price target of $169.82.

Citigroup Inc. raised its stake in shares of Welltower Inc. (NYSE:WELL - Free Report) by 57.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 844,809 shares of the real estate investment trust's stock after acquiring an additional 309,832 shares during the period. Citigroup Inc. owned about 0.13% of Welltower worth $129,433,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of WELL. Geller Advisors LLC increased its stake in Welltower by 3.7% in the 4th quarter. Geller Advisors LLC now owns 1,911 shares of the real estate investment trust's stock worth $241,000 after purchasing an additional 69 shares during the period. Good Life Advisors LLC increased its stake in Welltower by 1.2% in the 1st quarter. Good Life Advisors LLC now owns 5,744 shares of the real estate investment trust's stock worth $880,000 after purchasing an additional 69 shares during the period. Sivia Capital Partners LLC increased its stake in Welltower by 4.3% in the 1st quarter. Sivia Capital Partners LLC now owns 1,783 shares of the real estate investment trust's stock worth $273,000 after purchasing an additional 73 shares during the period. Sound View Wealth Advisors Group LLC increased its stake in Welltower by 2.0% in the 1st quarter. Sound View Wealth Advisors Group LLC now owns 3,644 shares of the real estate investment trust's stock worth $558,000 after purchasing an additional 73 shares during the period. Finally, Premier Path Wealth Partners LLC increased its stake in Welltower by 1.8% in the 1st quarter. Premier Path Wealth Partners LLC now owns 4,427 shares of the real estate investment trust's stock worth $678,000 after purchasing an additional 77 shares during the period. 94.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Welltower

In related news, Director Andrew Gundlach bought 20,000 shares of the firm's stock in a transaction on Monday, June 30th. The stock was acquired at an average cost of $151.46 per share, for a total transaction of $3,029,200.00. Following the purchase, the director owned 20,000 shares in the company, valued at approximately $3,029,200. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.21% of the stock is owned by insiders.

Welltower Stock Down 2.1%

Shares of NYSE WELL traded down $3.45 during mid-day trading on Tuesday, hitting $164.58. 2,506,808 shares of the stock traded hands, compared to its average volume of 2,973,486. The company has a debt-to-equity ratio of 0.44, a quick ratio of 4.19 and a current ratio of 4.19. Welltower Inc. has a 52 week low of $115.18 and a 52 week high of $171.09. The company has a market cap of $110.07 billion, a price-to-earnings ratio of 92.98, a PEG ratio of 1.92 and a beta of 0.93. The stock has a fifty day moving average price of $157.08 and a 200-day moving average price of $150.89.

Welltower (NYSE:WELL - Get Free Report) last released its earnings results on Monday, July 28th. The real estate investment trust reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. Welltower had a return on equity of 3.38% and a net margin of 12.18%. The business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the company posted $1.05 earnings per share. The company's revenue for the quarter was up 39.6% compared to the same quarter last year. Research analysts anticipate that Welltower Inc. will post 4.88 EPS for the current year.

Welltower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Tuesday, August 12th will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This is a positive change from Welltower's previous quarterly dividend of $0.67. This represents a $2.96 annualized dividend and a dividend yield of 1.8%. Welltower's dividend payout ratio is presently 151.41%.

Wall Street Analyst Weigh In

A number of brokerages have commented on WELL. Morgan Stanley lifted their price target on Welltower from $155.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Wells Fargo & Company lifted their price objective on Welltower from $158.00 to $175.00 and gave the stock an "overweight" rating in a research report on Monday, June 2nd. 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. Finally, Wall Street Zen lowered Welltower from a "hold" rating to a "sell" rating in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $169.82.

Welltower Company Profile

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.