Welltower (NYSE:WELL) Reaches New 52-Week High Following Analyst Upgrade

Welltower Inc. (NYSE:WELL - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday after Mizuho raised their price target on the stock from $98.00 to $105.00. Mizuho currently has a buy rating on the stock. Welltower traded as high as $98.83 and last traded at $98.50, with a volume of 42847 shares. The stock had previously closed at $98.40.

Several other brokerages have also recently weighed in on WELL. BNP Paribas started coverage on Welltower in a research report on Monday, March 18th. They set an "outperform" rating and a $104.00 price target for the company. StockNews.com upgraded shares of Welltower from a "sell" rating to a "hold" rating in a research report on Monday. Deutsche Bank Aktiengesellschaft started coverage on shares of Welltower in a research note on Tuesday, January 30th. They set a "buy" rating and a $115.00 target price on the stock. Finally, Scotiabank cut their price target on Welltower from $97.00 to $96.00 and set a "sector outperform" rating for the company in a research note on Monday, March 4th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $96.07.

Institutional Investors Weigh In On Welltower

A number of hedge funds have recently modified their holdings of WELL. Stratos Wealth Partners LTD. boosted its stake in Welltower by 56.8% during the third quarter. Stratos Wealth Partners LTD. now owns 5,756 shares of the real estate investment trust's stock worth $472,000 after buying an additional 2,084 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Welltower by 11.6% in the third quarter. Mackenzie Financial Corp now owns 59,809 shares of the real estate investment trust's stock valued at $4,743,000 after purchasing an additional 6,201 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Welltower by 4.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 123,276 shares of the real estate investment trust's stock worth $10,099,000 after purchasing an additional 5,492 shares during the last quarter. Advisor Partners II LLC raised its stake in Welltower by 4.5% during the third quarter. Advisor Partners II LLC now owns 19,630 shares of the real estate investment trust's stock worth $1,608,000 after purchasing an additional 843 shares during the period. Finally, Park Avenue Securities LLC boosted its holdings in Welltower by 3.8% in the 3rd quarter. Park Avenue Securities LLC now owns 12,243 shares of the real estate investment trust's stock valued at $1,003,000 after purchasing an additional 451 shares during the last quarter. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Welltower Stock Performance

The firm has a market cap of $59.29 billion, a PE ratio of 122.42, a PEG ratio of 2.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.83 and a current ratio of 3.83. The firm's 50 day moving average price is $92.60 and its two-hundred day moving average price is $90.06.

Welltower (NYSE:WELL - Get Free Report) last issued its quarterly earnings data on Monday, April 29th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.72). Welltower had a return on equity of 1.77% and a net margin of 6.37%. The business had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.81 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. The company's revenue was up 19.2% on a year-over-year basis. On average, research analysts forecast that Welltower Inc. will post 4.06 earnings per share for the current year.

Welltower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Monday, May 13th will be given a $0.61 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $2.44 dividend on an annualized basis and a yield of 2.46%. Welltower's payout ratio is currently 301.23%.

Welltower Company Profile

Welltower Inc NYSE: WELL, a 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 and infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health care experience.