Scotiabank Issues Positive Forecast for Welltower (NYSE:WELL) Stock Price

Welltower (NYSE:WELL - Get Free Report) had its price target lifted by analysts at Scotiabank from $170.00 to $172.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "sector outperform" rating on the real estate investment trust's stock. Scotiabank's target price would suggest a potential upside of 11.97% from the company's current price.

WELL has been the topic of a number of other reports. Evercore ISI raised 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. Mizuho boosted their price target on shares of Welltower from $141.00 to $170.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 18th. Wedbush restated an "underperform" rating on shares of Welltower in a research report on Thursday, April 17th. Wall Street Zen cut shares of Welltower from a "hold" rating to a "sell" rating in a research note on Thursday, May 8th. Finally, Wells Fargo & Company upped their target price on shares of Welltower from $158.00 to $175.00 and gave the company an "overweight" rating in a research report on Monday, June 2nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $163.75.

Welltower Stock Up 1.6%

WELL traded up $2.38 during midday trading on Monday, reaching $153.62. The company's stock had a trading volume of 128,920 shares, compared to its average volume of 2,908,839. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.46. The stock's 50-day moving average is $149.79 and its 200-day moving average is $142.96. Welltower has a 1 year low of $100.13 and a 1 year high of $158.55. The firm has a market capitalization of $100.46 billion, a price-to-earnings ratio of 88.66, a PEG ratio of 1.76 and a beta of 0.94.

Welltower (NYSE:WELL - Get Free Report) last issued its earnings results on Monday, April 28th. The real estate investment trust reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.05. Welltower had a net margin of 12.65% and a return on equity of 3.41%. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the firm posted $1.01 earnings per share. The business's revenue was up 30.3% on a year-over-year basis. As a group, research analysts expect that Welltower will post 4.88 EPS for the current year.

Hedge Funds Weigh In On Welltower

Several large investors have recently made changes to their positions in the stock. SouthState Corp raised its holdings in shares of Welltower by 704.8% in the 1st quarter. SouthState Corp now owns 169 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 148 shares during the period. Wealth Preservation Advisors LLC purchased a new stake in shares of Welltower during the first quarter worth $27,000. Harbor Capital Advisors Inc. purchased a new position in Welltower in the first quarter valued at $28,000. Smallwood Wealth Investment Management LLC acquired a new position in Welltower during the 1st quarter worth $28,000. Finally, Hughes Financial Services LLC purchased a new stake in Welltower during the 1st quarter worth about $31,000. 94.80% of the stock is currently owned by institutional investors and hedge funds.

About Welltower

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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