Welltower (NYSE:WELL) Issues Quarterly Earnings Results

Welltower (NYSE:WELL) announced its quarterly earnings results on Monday. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.31), Zacks reports. Welltower had a net margin of 8.36% and a return on equity of 2.21%. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period in the prior year, the business earned $0.92 EPS. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. Welltower updated its FY24 guidance to $4.27-$4.33 EPS and its FY 2024 guidance to 4.270-4.330 EPS.

Welltower Stock Performance

Welltower stock opened at $137.34 on Wednesday. Welltower has a 12-month low of $80.80 and a 12-month high of $137.73. The company has a quick ratio of 4.07, a current ratio of 4.07 and a debt-to-equity ratio of 0.47. The business’s 50-day moving average price is $126.35 and its two-hundred day moving average price is $111.71. The stock has a market cap of $82.12 billion, a PE ratio of 169.56, a P/E/G ratio of 2.91 and a beta of 1.21.

Welltower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Wednesday, November 13th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Wednesday, November 13th. Welltower’s dividend payout ratio is presently 330.86%.

Wall Street Analyst Weigh In

Several research firms have weighed in on WELL. Deutsche Bank Aktiengesellschaft increased their price objective on Welltower from $115.00 to $137.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Wedbush increased their price objective on Welltower from $100.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. StockNews.com cut Welltower from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Wolfe Research upgraded Welltower to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada raised their price target on Welltower from $101.00 to $114.00 and gave the stock a “sector perform” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $115.38.

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.