Welltower Inc. (NYSE:WELL) Position Reduced by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp reduced its stake in Welltower Inc. by 39.6% in Q1, now holding 141,282 shares worth approximately $21.65 million.
• Welltower's recent earnings report showed an EPS of $1.28, surpassing estimates and reflecting a 39.6% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.74 per share, marking an increase from its previous dividend of $0.67, with a current yield of 1.78%.

Mackenzie Financial Corp cut its holdings in shares of Welltower Inc. (NYSE:WELL - Free Report) by 39.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 141,282 shares of the real estate investment trust's stock after selling 92,510 shares during the quarter. Mackenzie Financial Corp's holdings in Welltower were worth $21,646,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Metis Global Partners LLC grew its position in Welltower by 14.3% during the 1st quarter. Metis Global Partners LLC now owns 107,646 shares of the real estate investment trust's stock worth $16,492,000 after purchasing an additional 13,454 shares during the period. LPL Financial LLC boosted its stake in shares of Welltower by 3.9% in the first quarter. LPL Financial LLC now owns 258,052 shares of the real estate investment trust's stock worth $39,536,000 after buying an additional 9,678 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Welltower by 26.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 690,785 shares of the real estate investment trust's stock worth $105,835,000 after acquiring an additional 145,947 shares during the period. FourThought Financial Partners LLC purchased a new position in Welltower during the first quarter valued at approximately $223,000. Finally, TD Asset Management Inc raised its position in Welltower by 3.6% during the first quarter. TD Asset Management Inc now owns 221,912 shares of the real estate investment trust's stock valued at $33,999,000 after acquiring an additional 7,618 shares in the last quarter. 94.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Welltower news, Director Andrew Gundlach bought 20,000 shares of the company's stock in a transaction dated Monday, June 30th. The shares were acquired at an average cost of $151.46 per share, with a total value of $3,029,200.00. Following the completion of the transaction, the director owned 20,000 shares in the company, valued at $3,029,200. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is owned by corporate insiders.

Welltower Trading Up 0.8%

Welltower stock traded up $1.25 during midday trading on Friday, reaching $166.32. The stock had a trading volume of 2,413,619 shares, compared to its average volume of 2,234,227. The stock's 50-day simple moving average is $154.79 and its 200 day simple moving average is $148.77. Welltower Inc. has a twelve month low of $110.74 and a twelve month high of $168.84. The company has a debt-to-equity ratio of 0.44, a quick ratio of 4.23 and a current ratio of 4.19. The stock has a market capitalization of $111.24 billion, a PE ratio of 93.97, a price-to-earnings-growth ratio of 1.89 and a beta of 0.93.

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

Welltower Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Tuesday, August 12th will be issued a $0.74 dividend. The ex-dividend date is 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 (DPR) is presently 151.41%.

Wall Street Analyst Weigh In

WELL has been the subject of several recent analyst reports. Evercore ISI lifted their price target on Welltower from $162.00 to $175.00 and gave the company an "in-line" rating in a research note on Wednesday. Wells Fargo & Company upped their target price on Welltower from $158.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, June 2nd. Wedbush reiterated an "underperform" rating on shares of Welltower in a research report on Thursday, April 17th. Wall Street Zen lowered shares of Welltower from a "hold" rating to a "sell" rating in a report on Thursday, May 8th. Finally, Scotiabank reiterated an "outperform" rating on shares of Welltower in a research report on Monday, June 23rd. Two analysts have rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $169.82.

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.