CIBC Asset Management Inc Boosts Holdings in Welltower Inc. (NYSE:WELL)

CIBC Asset Management Inc lifted its stake in Welltower Inc. (NYSE:WELL) by 5.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 84,541 shares of the real estate investment trust’s stock after buying an additional 4,622 shares during the quarter. CIBC Asset Management Inc’s holdings in Welltower were worth $10,824,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Intech Investment Management LLC lifted its position in shares of Welltower by 147.9% in the 1st quarter. Intech Investment Management LLC now owns 22,294 shares of the real estate investment trust’s stock worth $2,083,000 after purchasing an additional 13,300 shares during the period. Burke & Herbert Bank & Trust Co. bought a new position in shares of Welltower in the 2nd quarter worth about $674,000. Manning & Napier Advisors LLC bought a new position in shares of Welltower in the 2nd quarter worth about $14,766,000. O Shaughnessy Asset Management LLC increased its stake in shares of Welltower by 15.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 41,773 shares of the real estate investment trust’s stock worth $3,903,000 after acquiring an additional 5,470 shares in the last quarter. Finally, Van Hulzen Asset Management LLC bought a new position in shares of Welltower in the 2nd quarter worth about $411,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WELL has been the subject of several research reports. Royal Bank of Canada increased their price target on shares of Welltower from $101.00 to $114.00 and gave the stock a “sector perform” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Welltower from $115.00 to $137.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Evercore ISI raised their price objective on shares of Welltower from $106.00 to $114.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Wolfe Research upgraded shares of Welltower to a “strong-buy” rating in a research note on Friday, August 9th. Finally, Scotiabank raised their price objective on shares of Welltower from $121.00 to $133.00 and gave the company a “sector outperform” rating in a research note on Monday, September 23rd. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Welltower currently has an average rating of “Moderate Buy” and a consensus target price of $116.68.

Welltower Stock Performance

WELL opened at $136.02 on Friday. The company has a current ratio of 4.10, a quick ratio of 4.10 and a debt-to-equity ratio of 0.51. The company has a market cap of $84.70 billion, a price-to-earnings ratio of 89.49, a PEG ratio of 3.03 and a beta of 1.20. The company’s 50 day moving average is $130.20 and its 200 day moving average is $115.52. Welltower Inc. has a 12-month low of $85.40 and a 12-month high of $140.19.

Welltower (NYSE:WELL) last issued its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.73 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.31). The firm had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Welltower had a net margin of 12.22% and a return on equity of 3.20%. Welltower’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 EPS. On average, equities research analysts predict that Welltower Inc. will post 4.3 EPS for the current year.

Welltower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Wednesday, November 13th. Welltower’s payout ratio is currently 176.32%.

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.