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OVERSEA CHINESE BANKING Corp Ltd Sells 11,512 Shares of Welltower Inc. (NYSE:WELL)

Welltower logo with Finance background

Key Points

  • OVERSEA CHINESE BANKING Corp Ltd has reduced its holdings in Welltower Inc. by 8.6%, selling 11,512 shares and owning a total of 121,706 shares valued at approximately $18.6 million.
  • Welltower's quarterly earnings outperformed expectations, reporting $1.28 earnings per share compared to the consensus estimate of $1.22, with a revenue of $2.55 billion.
  • The company has announced an increase in its quarterly dividend to $0.74, representing a 1.8% dividend yield, effective for shareholders of record on August 12th.
  • MarketBeat previews the top five stocks to own by September 1st.

OVERSEA CHINESE BANKING Corp Ltd trimmed its stake in Welltower Inc. (NYSE:WELL - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 121,706 shares of the real estate investment trust's stock after selling 11,512 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Welltower were worth $18,647,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new stake in Welltower during the 1st quarter valued at about $28,000. Smallwood Wealth Investment Management LLC bought a new stake in Welltower during the 1st quarter valued at about $28,000. Hughes Financial Services LLC bought a new stake in Welltower during the 1st quarter valued at about $31,000. Franchise Capital Ltd bought a new stake in Welltower during the 1st quarter valued at about $32,000. Finally, N.E.W. Advisory Services LLC bought a new stake in Welltower during the 1st quarter valued at about $32,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

Welltower Stock Performance

Shares of WELL traded up $1.25 on Friday, reaching $166.32. The company's stock had a trading volume of 2,413,619 shares, compared to its average volume of 2,354,914. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.19 and a quick ratio of 4.19. The stock has a market capitalization of $111.24 billion, a P/E ratio of 93.97, a PEG ratio of 1.90 and a beta of 0.93. The stock's 50 day simple moving average is $155.13 and its two-hundred day simple moving average is $149.34. Welltower Inc. has a 12-month low of $110.74 and a 12-month high of $168.84.

Welltower (NYSE:WELL - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $1.28 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the firm earned $1.05 earnings per share. The company's revenue for the quarter was up 39.6% on a year-over-year basis. Research analysts forecast that Welltower Inc. will post 4.88 earnings per share for the current fiscal year.

Welltower Increases Dividend

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

Insiders Place Their Bets

In other news, Director Andrew Gundlach purchased 20,000 shares of the stock in a transaction on Monday, June 30th. The shares were acquired at an average price of $151.46 per share, with a total value 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 is available through the SEC website. 0.21% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WELL. Scotiabank restated an "outperform" rating on shares of Welltower in a research note on Monday, June 23rd. Wedbush reiterated an "underperform" rating on shares of Welltower in a research note on Thursday, April 17th. Wells Fargo & Company lifted their price target on shares of Welltower from $158.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, June 2nd. Wall Street Zen lowered shares of Welltower from a "hold" rating to a "sell" rating in a research note on Thursday, May 8th. Finally, Morgan Stanley lifted their price target on shares of Welltower from $155.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $169.82.

Check Out Our Latest Report on WELL

About Welltower

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Welltower (NYSE:WELL)

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