Northeast Investment Management Purchases 25,489 Shares of Welltower Inc. $WELL

Key Points

• Northeast Investment Management increased its Welltower stake by 110.7% in the third quarter, buying 25,489 shares to bring its holdings to 48,505 shares, valued at $11.17 million.
• Welltower reported quarterly EPS of $1.67, beating analyst estimates of $1.64, while revenue rose 38.4% year over year to $3.72 billion.
• The REIT declared a quarterly dividend of $0.85 per share, equivalent to $3.40 annually and a 1.4% yield.

Northeast Investment Management lifted its holdings in shares of Welltower Inc. (NYSE:WELL - Free Report) by 110.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,505 shares of the real estate investment trust's stock after acquiring an additional 25,489 shares during the quarter. Northeast Investment Management's holdings in Welltower were worth $11,168,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WELL. Chicago Partners Investment Group LLC boosted its position in shares of Welltower by 21.4% in the third quarter. Chicago Partners Investment Group LLC now owns 2,360 shares of the real estate investment trust's stock valued at $560,000 after acquiring an additional 416 shares during the period. Ascent Group LLC increased its holdings in shares of Welltower by 5.7% in the third quarter. Ascent Group LLC now owns 25,360 shares of the real estate investment trust's stock worth $5,839,000 after purchasing an additional 1,374 shares during the period. Caldwell Trust Co boosted its position in shares of Welltower by 39.6% during the 3rd quarter. Caldwell Trust Co now owns 504 shares of the real estate investment trust's stock valued at $116,000 after acquiring an additional 143 shares during the last quarter. 3Chopt Investment Partners LLC lifted its position in Welltower by 7.2% during the third quarter. 3Chopt Investment Partners LLC now owns 1,525 shares of the real estate investment trust's stock valued at $351,000 after purchasing an additional 102 shares during the last quarter. Finally, Third View Private Wealth LLC grew its position in Welltower by 46.0% in the third quarter. Third View Private Wealth LLC now owns 3,226 shares of the real estate investment trust's stock worth $743,000 after acquiring an additional 1,016 shares in the last quarter. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Welltower Trading Up 2.8%

NYSE WELL opened at $247.90 on Thursday. The stock's fifty day moving average price is $233.64 and its 200-day moving average price is $219.05. 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 stock has a market cap of $181.86 billion, a P/E ratio of 107.31, a P/E/G ratio of 1.15 and a beta of 0.79. Welltower Inc. has a 12 month low of $181.47 and a 12 month high of $255.20.

Welltower (NYSE:WELL - Get Free Report) last announced its quarterly 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. The company had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.64 billion. Welltower had a net margin of 12.08% and a return on equity of 3.61%. Welltower's revenue was up 38.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.34 EPS. As a group, equities analysts forecast that Welltower Inc. will post 6.51 EPS for the current fiscal year.

Welltower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Tuesday, November 10th will be given a $0.85 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $3.40 annualized dividend and a yield of 1.4%. Welltower's dividend payout ratio is 147.19%.

Insider Transactions at Welltower

In other Welltower news, Director Andrew Gundlach bought 5,000 shares of Welltower stock in a transaction on Wednesday, August 26th. The stock was acquired at an average price of $242.06 per share, with a total value of $1,210,300.00. Following the acquisition, the director owned 30,000 shares in the company, 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 can be accessed through the SEC website. 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. Company insiders own 0.37% of the company's stock.

Wall Street Analyst Weigh In

WELL has been the topic of a number of recent research reports. Royal Bank Of Canada increased their price target on shares of Welltower from $238.00 to $260.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. Jefferies Financial Group upgraded Welltower to a "strong-buy" rating in a report on Friday, September 25th. Wells Fargo & Company upped their target price on Welltower from $266.00 to $268.00 and gave the stock an "overweight" rating in a report on Monday, October 19th. Scotiabank upped their price target on Welltower from $244.00 to $251.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 2nd. Finally, JPMorgan Chase & Co. upgraded Welltower from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $230.00 to $260.00 in a report on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $259.81.

Welltower Profile

Welltower Inc NYSE: WELL is a healthcare-focused real estate investment trust that owns, develops, and manages properties used to provide healthcare and related services. Its portfolio is centered on senior housing communities, outpatient medical facilities, and post-acute care properties, including assets operated by healthcare providers and senior living companies.

The company's senior housing investments support independent living, assisted living, and memory care services. Its outpatient medical properties accommodate physicians, clinics, and other healthcare providers, while its broader healthcare real estate portfolio is designed to serve demand for care delivered outside traditional hospitals.

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