PNC Financial Services Group Inc. Cuts Stock Holdings in Welltower Inc. (NYSE:WELL)

PNC Financial Services Group Inc. decreased its position in Welltower Inc. (NYSE:WELL - Free Report) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 218,746 shares of the real estate investment trust's stock after selling 7,788 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Welltower were worth $19,724,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of WELL. Bruce G. Allen Investments LLC purchased a new position in shares of Welltower in the fourth quarter valued at about $25,000. Headlands Technologies LLC increased its position in shares of Welltower by 479.6% during the third quarter. Headlands Technologies LLC now owns 313 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 259 shares during the period. Financial Gravity Asset Management Inc. purchased a new position in shares of Welltower during the third quarter valued at about $38,000. Salem Investment Counselors Inc. increased its position in shares of Welltower by 84.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 425 shares of the real estate investment trust's stock valued at $38,000 after buying an additional 194 shares during the period. Finally, Rational Advisors LLC purchased a new position in shares of Welltower during the third quarter valued at about $43,000. Hedge funds and other institutional investors own 94.80% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on WELL. Mizuho boosted their price target on shares of Welltower from $98.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, May 8th. BNP Paribas began coverage on shares of Welltower in a research report on Monday, March 18th. They set an "outperform" rating and a $104.00 price target on the stock. StockNews.com upgraded shares of Welltower from a "sell" rating to a "hold" rating in a research report on Wednesday. Scotiabank upped their price objective on shares of Welltower from $96.00 to $108.00 and gave the stock a "sector outperform" rating in a report on Thursday, May 16th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Welltower in a report on Tuesday, January 30th. They issued a "buy" rating and a $115.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.93.

Welltower Stock Up 0.8 %

Shares of NYSE WELL traded up $0.77 during midday trading on Wednesday, hitting $101.87. The stock had a trading volume of 2,273,488 shares, compared to its average volume of 2,498,380. The business's 50 day moving average is $94.18 and its 200-day moving average is $91.19. The company has a market cap of $60.91 billion, a P/E ratio of 125.77, a PEG ratio of 2.65 and a beta of 1.07. Welltower Inc. has a 52 week low of $72.47 and a 52 week high of $102.66. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.50.

Welltower (NYSE:WELL - Get Free Report) last issued its earnings results on Monday, April 29th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.72). The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.81 billion. Welltower had a return on equity of 1.77% and a net margin of 6.37%. The company's quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.85 EPS. As a group, analysts predict that Welltower Inc. will post 4.11 EPS for the current year.

Welltower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Monday, May 13th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, May 10th. This represents a $2.44 dividend on an annualized basis and a yield of 2.40%. Welltower's dividend payout ratio (DPR) is 301.23%.

About Welltower

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.