Westover Capital Advisors LLC Sells 2,403 Shares of Welltower Inc. (NYSE:WELL)

Key Points

• Westover Capital Advisors LLC reduced its stake in Welltower Inc. by 7.7% in the first quarter, now holding 28,830 shares valued at approximately $4,417,000.
• In recent analyst reports, Morgan Stanley and Wells Fargo upgraded their target prices for Welltower, with Wells Fargo setting a new target at $175.00.
• Director Andrew Gundlach purchased 20,000 shares of Welltower stock at an average cost of $151.46 per share, significantly increasing his ownership amount.

Westover Capital Advisors LLC cut its holdings in shares of Welltower Inc. (NYSE:WELL - Free Report) by 7.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,830 shares of the real estate investment trust's stock after selling 2,403 shares during the quarter. Welltower comprises 1.0% of Westover Capital Advisors LLC's investment portfolio, making the stock its 23rd largest holding. Westover Capital Advisors LLC's holdings in Welltower were worth $4,417,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. Assetmark Inc. raised its stake in shares of Welltower by 867.3% in the first quarter. Assetmark Inc. now owns 108,030 shares of the real estate investment trust's stock valued at $16,551,000 after purchasing an additional 96,862 shares in the last quarter. Cetera Investment Advisers raised its stake in Welltower by 13.3% during the first quarter. Cetera Investment Advisers now owns 98,244 shares of the real estate investment trust's stock worth $15,052,000 after acquiring an additional 11,499 shares in the last quarter. Machina Capital S.A.S. raised its stake in Welltower by 72.7% during the first quarter. Machina Capital S.A.S. now owns 12,242 shares of the real estate investment trust's stock worth $1,876,000 after acquiring an additional 5,153 shares in the last quarter. Dorsey Wright & Associates acquired a new position in Welltower during the first quarter worth $1,602,000. Finally, AE Wealth Management LLC raised its stake in Welltower by 7.8% during the first quarter. AE Wealth Management LLC now owns 2,083 shares of the real estate investment trust's stock worth $319,000 after acquiring an additional 151 shares in the last quarter. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Welltower Stock Up 4.0%

Shares of NYSE:WELL traded up $6.33 during midday trading on Tuesday, hitting $164.62. The stock had a trading volume of 1,759,507 shares, compared to its average volume of 2,969,882. Welltower Inc. has a 12 month low of $110.74 and a 12 month high of $165.87. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.46. The business's 50-day simple moving average is $153.77 and its 200-day simple moving average is $148.25. The company has a market cap of $107.65 billion, a P/E ratio of 94.57, a PEG ratio of 1.88 and a beta of 0.92.

Welltower (NYSE:WELL - Get Free Report) last released 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. Welltower had a net margin of 12.65% and a return on equity of 3.41%. The business had revenue of $2.55 billion during the quarter, compared to analysts' expectations of $2.49 billion. During the same period last year, the business earned $1.05 earnings per share. The firm's revenue was up 39.6% on a year-over-year basis. On average, sell-side analysts forecast 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. Investors of record on Tuesday, August 12th will be 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 1.80%. Welltower's payout ratio is 154.02%.

Insider Buying and Selling at Welltower

In related news, Director Andrew Gundlach bought 20,000 shares of the business's stock in a transaction dated Monday, June 30th. The stock was purchased at an average cost 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WELL. Wall Street Zen cut Welltower from a "hold" rating to a "sell" rating in a report on Thursday, May 8th. Evercore ISI increased their target price on Welltower from $145.00 to $157.00 and gave the stock an "in-line" rating in a report on Thursday, May 1st. Wells Fargo & Company raised their price target on Welltower from $158.00 to $175.00 and gave the company an "overweight" rating in a report on Monday, June 2nd. Morgan Stanley raised their price target on Welltower from $155.00 to $160.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Finally, Wedbush reissued an "underperform" rating on shares of Welltower in a research note on Thursday, April 17th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $168.18.

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.