Welltower Inc. (NYSE:WELL) Shares Sold by ProVise Management Group LLC

Key Points

• ProVise Management Group LLC reduced its stake in Welltower Inc. by 23.3%, owning 5,525 shares after selling 1,675 shares, valued at $846,000 as of its latest SEC filing.
• Welltower reported a 39.6% year-over-year increase in revenue for the last quarter, with earnings per share at $1.28, surpassing analysts' expectations of $1.22.
• The company declared a quarterly dividend of $0.74 per share, increasing from the previous dividend of $0.67, signaling a strong commitment to returning value to shareholders.

ProVise Management Group LLC cut its holdings in Welltower Inc. (NYSE:WELL - Free Report) by 23.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 5,525 shares of the real estate investment trust's stock after selling 1,675 shares during the period. ProVise Management Group LLC's holdings in Welltower were worth $846,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital International Investors boosted its stake in Welltower by 0.9% during the 4th quarter. Capital International Investors now owns 37,096,408 shares of the real estate investment trust's stock valued at $4,674,826,000 after purchasing an additional 318,496 shares during the period. Bank of America Corp DE boosted its stake in Welltower by 9.7% during the 4th quarter. Bank of America Corp DE now owns 18,706,788 shares of the real estate investment trust's stock valued at $2,357,617,000 after purchasing an additional 1,652,611 shares during the period. FMR LLC boosted its stake in Welltower by 9.4% during the 4th quarter. FMR LLC now owns 15,782,795 shares of the real estate investment trust's stock valued at $1,989,106,000 after purchasing an additional 1,354,231 shares during the period. Northern Trust Corp boosted its stake in Welltower by 53.5% during the 4th quarter. Northern Trust Corp now owns 8,430,496 shares of the real estate investment trust's stock valued at $1,062,495,000 after purchasing an additional 2,939,229 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Welltower by 10.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,632,705 shares of the real estate investment trust's stock valued at $961,950,000 after purchasing an additional 712,279 shares during the period. 94.80% of the stock is owned by institutional investors and hedge funds.

Welltower Stock Up 0.8%

NYSE WELL opened at $166.32 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.19 and a quick ratio of 4.23. The company's 50 day simple moving average is $155.13 and its 200 day simple moving average is $149.04. 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 $111.24 billion, a P/E ratio of 93.97, a PEG ratio of 1.89 and a beta of 0.93.

Welltower (NYSE:WELL - Get Free Report) last released its earnings results on Monday, July 28th. The real estate investment trust reported $1.28 EPS 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 business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the firm earned $1.05 EPS. The business's revenue for the quarter was up 39.6% on a year-over-year basis. Equities research analysts expect 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Tuesday, August 12th. Welltower's dividend payout ratio (DPR) is presently 151.41%.

Wall Street Analyst Weigh In

WELL has been the subject of a number of analyst reports. Scotiabank reissued an "outperform" rating on shares of Welltower in a research note on Monday, June 23rd. Wedbush reaffirmed an "underperform" rating on shares of Welltower in a research note on Thursday, April 17th. 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 upped 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. Finally, Wells Fargo & Company upped 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. Two 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 issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $169.82.

Insider Activity

In other news, Director Andrew Gundlach purchased 20,000 shares of Welltower 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 transaction, the director owned 20,000 shares in the company, valued at $3,029,200. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.21% of the stock is owned by corporate insiders.

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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