Vanguard Group Inc. Sells 5,904,925 Shares of Welltower Inc. (NYSE:WELL)

Key Points

• Vanguard Group Inc. has reduced its stake in Welltower Inc. by 6.0% during the first quarter, now owning approximately 14.13% of the company valued at over $14 billion after selling nearly 6 million shares.
• Welltower declared an increased quarterly dividend of $0.74, set to be paid on August 21, reflecting a rise from the previous $0.67 dividend, and an annualized payout of approximately $2.96.
• Despite Vanguard's decrease in position, several other hedge funds, like Beacon Financial Planning Inc. and Summit Trail Advisors LLC, have increased their holdings in Welltower, indicating mixed sentiment among institutional investors.

Vanguard Group Inc. lowered its holdings in shares of Welltower Inc. (NYSE:WELL - Free Report) by 6.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,390,333 shares of the real estate investment trust's stock after selling 5,904,925 shares during the period. Vanguard Group Inc. owned about 14.13% of Welltower worth $14,155,123,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. LPL Financial LLC raised its stake in Welltower by 3.9% during the first quarter. LPL Financial LLC now owns 258,052 shares of the real estate investment trust's stock worth $39,536,000 after acquiring an additional 9,678 shares in the last quarter. Beacon Financial Planning Inc. grew its holdings in shares of Welltower by 6.8% in the 1st quarter. Beacon Financial Planning Inc. now owns 27,893 shares of the real estate investment trust's stock worth $4,274,000 after purchasing an additional 1,780 shares during the last quarter. Summit Trail Advisors LLC increased its position in shares of Welltower by 61.4% during the 1st quarter. Summit Trail Advisors LLC now owns 6,756 shares of the real estate investment trust's stock worth $1,035,000 after purchasing an additional 2,571 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Welltower by 8.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 131,503 shares of the real estate investment trust's stock worth $20,147,000 after purchasing an additional 10,423 shares in the last quarter. Finally, Focused Wealth Management Inc bought a new position in Welltower during the 1st quarter valued at about $313,000. Institutional investors own 94.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Scotiabank reaffirmed an "outperform" rating on shares of Welltower in a research note on Monday, June 23rd. Wall Street Zen lowered Welltower from a "hold" rating to a "sell" rating in a research report on Thursday, May 8th. Evercore ISI raised their price target on Welltower from $162.00 to $175.00 and gave the company an "in-line" rating in a report on Wednesday, July 30th. Morgan Stanley boosted their price objective on Welltower from $155.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company raised their target price on Welltower from $158.00 to $175.00 and gave the company an "overweight" rating in a research note on Monday, June 2nd. Two 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $169.82.

Insider Activity at Welltower

In related news, Director Andrew Gundlach acquired 20,000 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was acquired at an average price of $151.46 per share, for a total transaction of $3,029,200.00. Following the completion of the acquisition, the director owned 20,000 shares of the company's stock, valued at $3,029,200. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.21% of the company's stock.

Welltower Trading Up 0.6%

Welltower stock traded up $0.94 during mid-day trading on Thursday, hitting $169.90. The stock had a trading volume of 2,591,869 shares, compared to its average volume of 2,376,813. The stock has a 50-day simple moving average of $156.55 and a two-hundred day simple moving average of $150.17. The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $113.63 billion, a PE ratio of 95.99, a P/E/G ratio of 1.94 and a beta of 0.93. Welltower Inc. has a 12 month low of $114.37 and a 12 month high of $171.09.

Welltower (NYSE:WELL - Get Free Report) last issued its earnings results on Monday, July 28th. The real estate investment trust reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.06. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.49 billion. Welltower had a net margin of 12.18% and a return on equity of 3.38%. The company's revenue for the quarter was up 39.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 EPS. As a group, sell-side analysts forecast that Welltower Inc. will post 4.88 EPS for the current year.

Welltower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Tuesday, August 12th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Tuesday, August 12th. This is a positive change from Welltower's previous quarterly dividend of $0.67. Welltower's dividend payout ratio is presently 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.