Praxis Investment Management Inc. Reduces Stock Holdings in Welltower Inc. $WELL

Key Points

• Praxis Investment Management Inc. reduced its holdings in Welltower Inc. by 14.7% in Q2, ending with 14,420 shares valued at $2.22 million after selling 2,480 shares.
• Welltower reported a 39.6% year-over-year increase in quarterly revenue, totaling $2.55 billion, with earnings per share of $1.28, surpassing estimates.
• The company announced a quarterly dividend increase to $0.74 per share, up from $0.67, resulting in a 1.7% dividend yield and a payout ratio of 167.23%.

Praxis Investment Management Inc. lowered its position in Welltower Inc. (NYSE:WELL - Free Report) by 14.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,420 shares of the real estate investment trust's stock after selling 2,480 shares during the quarter. Praxis Investment Management Inc.'s holdings in Welltower were worth $2,217,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. SouthState Corp grew its holdings in shares of Welltower by 704.8% in the first quarter. SouthState Corp now owns 169 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 148 shares during the period. Wealth Preservation Advisors LLC purchased a new stake in shares of Welltower in the first quarter valued at about $27,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Welltower in the first quarter valued at about $28,000. Hughes Financial Services LLC purchased a new stake in shares of Welltower in the first quarter valued at about $31,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Welltower in the first quarter valued at about $32,000. Hedge funds and other institutional investors own 94.80% of the company's stock.

Welltower Stock Down 0.1%

Shares of WELL opened at $172.14 on Friday. The stock has a market capitalization of $115.13 billion, a PE ratio of 97.25, a P/E/G ratio of 1.94 and a beta of 0.92. Welltower Inc. has a 1 year low of $123.11 and a 1 year high of $180.40. The company has a debt-to-equity ratio of 0.44, a quick ratio of 4.19 and a current ratio of 4.19. The company's 50-day simple moving average is $168.66 and its 200-day simple moving average is $157.89.

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 (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.06. The business had revenue of $2.55 billion for the quarter, compared to analysts' expectations of $2.49 billion. Welltower had a net margin of 12.18% and a return on equity of 3.38%. The business's quarterly revenue was up 39.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.05 earnings per share. Welltower has set its FY 2025 guidance at 5.060-5.14 EPS. Analysts forecast that Welltower Inc. will post 4.88 earnings per share for the current fiscal year.

Welltower Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on WELL shares. UBS Group started coverage on shares of Welltower in a report on Friday, September 19th. They issued a "buy" rating and a $195.00 price objective for the company. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Welltower in a research report on Tuesday, September 2nd. Scotiabank upped their target price on shares of Welltower from $181.00 to $182.00 and gave the company an "outperform" rating in a research report on Monday, October 6th. Wells Fargo & Company upped their target price on shares of Welltower from $175.00 to $185.00 and gave the company an "overweight" rating in a research report on Wednesday, August 27th. Finally, Evercore ISI upped their target price on shares of Welltower from $175.00 to $183.00 and gave the company an "in-line" rating in a research report on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Welltower currently has a consensus rating of "Moderate Buy" and an average target price of $180.69.

Welltower 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.

Want to see what other hedge funds are holding WELL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Welltower Inc. (NYSE:WELL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.