Welltower Inc. $WELL Shares Bought by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC increased its stake in Welltower Inc. by 22.5%, acquiring an additional 12,136 shares during the first quarter, bringing the total to 66,177 shares valued at over $10 million.
• Welltower's stock has received several upgrades from analysts, with price targets raised by multiple firms, reflecting a consensus rating of "Moderate Buy" and a price target of $175.00.
• Welltower recently declared an increase in its quarterly dividend to $0.74 per share, up from $0.67, representing a 1.7% yield based on current stock performance.

Fred Alger Management LLC raised its stake in Welltower Inc. (NYSE:WELL - Free Report) by 22.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,177 shares of the real estate investment trust's stock after buying an additional 12,136 shares during the quarter. Fred Alger Management LLC's holdings in Welltower were worth $10,139,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of WELL. SouthState Corp lifted its position in shares of Welltower by 704.8% during the first quarter. SouthState Corp now owns 169 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 148 shares in the last quarter. Wealth Preservation Advisors LLC acquired a new stake in shares of Welltower during the first quarter worth about $27,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Welltower during the first quarter worth about $28,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Welltower during the first quarter worth about $28,000. Finally, Hughes Financial Services LLC acquired a new stake in shares of Welltower during the first quarter worth about $31,000. Institutional investors and hedge funds own 94.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on WELL shares. Raymond James Financial reissued a "strong-buy" rating on shares of Welltower in a research report on Tuesday, September 2nd. Evercore ISI increased their price target on shares of Welltower from $162.00 to $175.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 30th. Wells Fargo & Company increased their price target on shares of Welltower from $175.00 to $185.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 27th. Finally, Scotiabank increased their price target on shares of Welltower from $172.00 to $181.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Welltower has a consensus rating of "Moderate Buy" and a consensus price target of $175.00.

Insider Buying and Selling

In related news, Director Andrew Gundlach purchased 20,000 shares of the company's stock in a transaction on Monday, June 30th. The shares were bought at an average cost of $151.46 per share, for a total transaction of $3,029,200.00. Following the completion of the purchase, the director directly owned 20,000 shares of the company's stock, valued at approximately $3,029,200. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.21% of the stock is owned by corporate insiders.

Welltower Stock Up 1.1%

Shares of NYSE:WELL opened at $169.59 on Tuesday. The firm's 50 day moving average price is $162.46 and its 200 day moving average price is $153.99. The stock has a market cap of $113.43 billion, a price-to-earnings ratio of 95.81, a price-to-earnings-growth ratio of 1.89 and a beta of 0.93. Welltower Inc. has a fifty-two week low of $122.34 and a fifty-two week high of $171.09. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 0.44.

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 for the quarter, beating the consensus estimate of $1.22 by $0.06. The firm 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 firm's revenue was up 39.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.05 earnings per share. Welltower has set its FY 2025 guidance at 5.060-5.14 EPS. As a group, equities research analysts predict that Welltower Inc. will post 4.88 earnings per share for the current fiscal year.

Welltower Increases Dividend

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

Welltower Company 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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