Grimes & Company Inc. Takes Position in Welltower Inc. $WELL

Key Points

• Grimes & Company Inc. acquired a stake in Welltower Inc. (NYSE: WELL) during the second quarter, purchasing 2,731 shares valued at approximately $420,000.
• Welltower reported earnings of $1.28 per share, exceeding expectations, with revenue of $2.55 billion for the quarter, marking a significant increase of 39.6% year-over-year.
• The company recently raised its quarterly dividend from $0.67 to $0.74, resulting in an annualized dividend of $2.96 and a dividend yield of 1.7%.

Grimes & Company Inc. purchased a new stake in Welltower Inc. (NYSE:WELL - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,731 shares of the real estate investment trust's stock, valued at approximately $420,000.

Several other large investors have also modified their holdings of WELL. Nuveen LLC bought a new stake in shares of Welltower in the 1st quarter valued at about $762,204,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Welltower by 41.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,923,852 shares of the real estate investment trust's stock valued at $1,367,226,000 after purchasing an additional 2,622,384 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Welltower by 14.0% in the 1st quarter. Wellington Management Group LLP now owns 21,289,684 shares of the real estate investment trust's stock valued at $3,261,792,000 after purchasing an additional 2,614,562 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC raised its holdings in shares of Welltower by 55.6% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,013,247 shares of the real estate investment trust's stock valued at $461,660,000 after purchasing an additional 1,076,293 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Welltower by 65.2% in the 1st quarter. Ameriprise Financial Inc. now owns 2,648,557 shares of the real estate investment trust's stock valued at $399,314,000 after purchasing an additional 1,045,507 shares in the last quarter. Institutional investors own 94.80% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on WELL. Scotiabank boosted their price target on shares of Welltower from $181.00 to $182.00 and gave the company an "outperform" rating in a report on Monday. Weiss Ratings reiterated a "buy (b)" rating on shares of Welltower in a research note on Saturday, September 27th. Raymond James Financial reiterated a "strong-buy" rating on shares of Welltower in a research note on Tuesday, September 2nd. Cantor Fitzgerald initiated coverage on shares of Welltower in a research note on Wednesday, October 1st. They set an "overweight" rating and a $195.00 price objective for the company. Finally, UBS Group initiated coverage on shares of Welltower in a research note on Friday, September 19th. They set a "buy" rating and a $195.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $180.69.

Welltower Stock Down 0.7%

NYSE:WELL opened at $173.00 on Wednesday. The company has a market cap of $115.71 billion, a PE ratio of 97.74, a P/E/G ratio of 1.96 and a beta of 0.92. Welltower Inc. has a twelve month low of $122.34 and a twelve month high of $180.40. The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 0.44. The company's 50 day moving average is $168.51 and its two-hundred day moving average is $157.06.

Welltower (NYSE:WELL - Get Free Report) last released its earnings results on Monday, July 28th. The real estate investment trust reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.06. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.49 billion. Welltower had a net margin of 12.18% and a return on equity of 3.38%. Welltower's revenue was up 39.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.05 EPS. Welltower has set its FY 2025 guidance at 5.060-5.14 EPS. Analysts anticipate that Welltower Inc. will post 4.88 EPS for the current year.

Welltower Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Tuesday, August 12th were issued a $0.74 dividend. This is an increase from Welltower's previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.96 annualized dividend and a dividend yield of 1.7%. Welltower's payout ratio is currently 167.23%.

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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