Resona Asset Management Co. Ltd. Increases Stock Position in Welltower Inc. (NYSE:WELL)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Welltower Inc. by 9.5%, owning 374,603 shares valued at approximately $57.45 million as of its recent SEC filing.
• Welltower reported a quarterly earnings per share of $1.28, exceeding analysts' expectations, and saw a significant year-over-year revenue increase of 39.6%.
• The company has announced a quarterly dividend increase to $0.74 per share, effective for shareholders of record on August 12th, reflecting its financial stability.

Resona Asset Management Co. Ltd. boosted its stake in shares of Welltower Inc. (NYSE:WELL - Free Report) by 9.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 374,603 shares of the real estate investment trust's stock after buying an additional 32,589 shares during the quarter. Resona Asset Management Co. Ltd. owned 0.06% of Welltower worth $57,450,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Welltower by 7.1% in the fourth quarter. Brighton Jones LLC now owns 4,185 shares of the real estate investment trust's stock valued at $527,000 after purchasing an additional 279 shares during the period. Bessemer Group Inc. boosted its stake in shares of Welltower by 8.5% in the fourth quarter. Bessemer Group Inc. now owns 7,914 shares of the real estate investment trust's stock valued at $997,000 after purchasing an additional 617 shares during the period. Rockefeller Capital Management L.P. boosted its stake in shares of Welltower by 1.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 71,271 shares of the real estate investment trust's stock valued at $8,973,000 after purchasing an additional 995 shares during the period. Townsquare Capital LLC boosted its stake in shares of Welltower by 22.0% in the fourth quarter. Townsquare Capital LLC now owns 6,642 shares of the real estate investment trust's stock valued at $837,000 after purchasing an additional 1,196 shares during the period. Finally, Sagespring Wealth Partners LLC purchased a new position in shares of Welltower in the fourth quarter valued at approximately $543,000. Hedge funds and other institutional investors own 94.80% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on WELL shares. Wall Street Zen lowered shares of Welltower from a "hold" rating to a "sell" rating in a research note on Thursday, May 8th. Evercore ISI lifted their price target on shares of Welltower from $162.00 to $175.00 and gave the stock an "in-line" rating in a research note on Wednesday, July 30th. 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. 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. Finally, Scotiabank reiterated an "outperform" rating on shares of Welltower in a research note on Monday, June 23rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Welltower currently has an average rating of "Moderate Buy" and a consensus price target of $169.82.

Insiders Place Their Bets

In other Welltower news, Director Andrew Gundlach bought 20,000 shares of the business'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 acquisition, the director directly owned 20,000 shares of the company's stock, valued at $3,029,200. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.21% of the company's stock.

Welltower Stock Down 0.1%

WELL stock opened at $167.93 on Tuesday. The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 0.44. Welltower Inc. has a twelve month low of $115.18 and a twelve month high of $171.09. The company's 50 day moving average is $157.08 and its two-hundred day moving average is $150.89. The stock has a market cap of $112.32 billion, a P/E ratio of 94.88, a PEG ratio of 1.92 and a beta of 0.93.

Welltower (NYSE:WELL - Get Free Report) last released its quarterly earnings data 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. Welltower had a net margin of 12.18% and a return on equity of 3.38%. The company had revenue of $2.55 billion for the quarter, compared to analysts' expectations of $2.49 billion. During the same quarter last year, the company earned $1.05 earnings per share. The firm's revenue for the quarter was up 39.6% on a year-over-year basis. Research analysts expect that Welltower Inc. will post 4.88 earnings per share for the current fiscal year.

Welltower Increases Dividend

The business 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 dividend of $0.74 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This is an increase from Welltower's previous quarterly dividend of $0.67. This represents a $2.96 dividend on an annualized basis and a yield of 1.8%. Welltower's dividend payout ratio is 151.41%.

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.

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