TCW Group Inc. Sells 9,447 Shares of Welltower Inc. (NYSE:WELL)

Key Points

• TCW Group Inc. has reduced its position in Welltower Inc. by 9.0%, owning 95,000 shares worth approximately $14.56 million.
• Director Andrew Gundlach purchased 20,000 shares at an average price of $151.46, increasing his stake in the company significantly.
• Welltower's recent earnings report showed a quarterly revenue of $2.42 billion, surpassing analyst expectations, and a year-over-year revenue increase of 30.3%.

TCW Group Inc. reduced its position in shares of Welltower Inc. (NYSE:WELL - Free Report) by 9.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 95,000 shares of the real estate investment trust's stock after selling 9,447 shares during the period. TCW Group Inc.'s holdings in Welltower were worth $14,555,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new stake in shares of Welltower in the first quarter worth approximately $28,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Welltower during the first quarter valued at approximately $28,000. Hughes Financial Services LLC purchased a new stake in shares of Welltower during the first quarter valued at approximately $31,000. Franchise Capital Ltd purchased a new stake in shares of Welltower during the first quarter valued at approximately $32,000. Finally, ZynergyRetirementPlanningLLC acquired a new stake in Welltower in the first quarter valued at $33,000. 94.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Welltower Price Performance

Welltower stock traded down $0.71 during midday trading on Thursday, hitting $165.67. The company's stock had a trading volume of 789,046 shares, compared to its average volume of 2,977,044. The company has a quick ratio of 4.23, a current ratio of 4.19 and a debt-to-equity ratio of 0.48. The stock's 50-day moving average price is $154.42 and its 200-day moving average price is $148.50. Welltower Inc. has a 12 month low of $110.74 and a 12 month high of $168.84. The company has a market capitalization of $108.34 billion, a PE ratio of 93.70, a price-to-earnings-growth ratio of 1.90 and a beta of 0.92.

Welltower (NYSE:WELL - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $1.28 EPS for the quarter, topping 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 firm had revenue of $2.55 billion for the quarter, compared to analysts' expectations of $2.49 billion. During the same period in the previous year, the business earned $1.05 earnings per share. Welltower's revenue for the quarter was up 39.6% compared to the same quarter last year. Analysts anticipate 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. This represents a $2.96 annualized dividend and a yield of 1.79%. The ex-dividend date is Tuesday, August 12th. This is an increase from Welltower's previous quarterly dividend of $0.67. Welltower's payout ratio is presently 154.02%.

Insider Transactions at Welltower

In related news, Director Andrew Gundlach acquired 20,000 shares of the business's stock in a transaction on Monday, June 30th. The shares were purchased at an average price of $151.46 per share, for a total transaction of $3,029,200.00. Following the acquisition, the director owned 20,000 shares in the company, valued at approximately $3,029,200. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.21% of the company's stock.

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.