Grove Bank & Trust Decreases Holdings in Welltower Inc. (NYSE:WELL)

Grove Bank & Trust cut its holdings in shares of Welltower Inc. (NYSE:WELL) by 27.2% during the 4th quarter, HoldingsChannel reports. The fund owned 750 shares of the real estate investment trust’s stock after selling 280 shares during the quarter. Grove Bank & Trust’s holdings in Welltower were worth $68,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Nordea Investment Management AB grew its holdings in shares of Welltower by 1,412.2% in the fourth quarter. Nordea Investment Management AB now owns 594,677 shares of the real estate investment trust’s stock worth $54,062,000 after purchasing an additional 555,353 shares during the last quarter. Harbour Trust & Investment Management Co bought a new position in shares of Welltower in the fourth quarter worth approximately $5,409,000. Envestnet Asset Management Inc. grew its holdings in shares of Welltower by 27.3% in the third quarter. Envestnet Asset Management Inc. now owns 447,303 shares of the real estate investment trust’s stock worth $36,643,000 after purchasing an additional 96,046 shares during the last quarter. Cerity Partners LLC boosted its holdings in Welltower by 57.4% in the fourth quarter. Cerity Partners LLC now owns 168,106 shares of the real estate investment trust’s stock valued at $15,158,000 after acquiring an additional 61,324 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC boosted its holdings in Welltower by 6.0% in the fourth quarter. Chevy Chase Trust Holdings LLC now owns 310,624 shares of the real estate investment trust’s stock valued at $28,009,000 after acquiring an additional 17,595 shares in the last quarter. 94.80% of the stock is owned by hedge funds and other institutional investors.

Welltower Trading Down 0.7 %

NYSE:WELL opened at $89.12 on Tuesday. The stock has a market cap of $52.67 billion, a price-to-earnings ratio of 139.25, a PEG ratio of 2.28 and a beta of 1.08. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.60. The company’s 50 day moving average price is $91.59 and its 200-day moving average price is $88.86. Welltower Inc. has a 52 week low of $72.47 and a 52 week high of $94.63.

Welltower (NYSE:WELL) last issued its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.15 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.79). The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Welltower had a net margin of 5.12% and a return on equity of 1.47%. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.83 earnings per share. On average, equities research analysts forecast that Welltower Inc. will post 4.03 earnings per share for the current fiscal year.

Welltower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend was Thursday, February 22nd. Welltower’s dividend payout ratio is currently 381.26%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on WELL shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Welltower in a report on Tuesday, January 30th. They issued a “buy” rating and a $115.00 price target on the stock. JPMorgan Chase & Co. upgraded shares of Welltower from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $92.00 to $99.00 in a report on Monday, December 18th. KeyCorp lifted their price target on shares of Welltower from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, January 5th. BNP Paribas began coverage on shares of Welltower in a report on Monday, March 18th. They set an “outperform” rating and a $104.00 target price on the stock. Finally, Scotiabank decreased their price target on shares of Welltower from $97.00 to $96.00 and set a “sector outperform” rating for the company in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $95.57.

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.