OppenheimerFunds Inc. purchased a new stake in Welltower Inc (NYSE:WELL) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 140,064 shares of the real estate investment trust’s stock, valued at approximately $7,623,000.
A number of other hedge funds also recently bought and sold shares of WELL. Synovus Financial Corp acquired a new position in Welltower during the first quarter worth about $107,000. Motco acquired a new position in Welltower during the first quarter worth about $114,000. Smithfield Trust Co. acquired a new position in Welltower during the first quarter worth about $115,000. Pittenger & Anderson Inc. acquired a new position in Welltower during the first quarter worth about $118,000. Finally, Tiverton Asset Management LLC acquired a new position in Welltower during the first quarter worth about $130,000. 83.79% of the stock is owned by institutional investors and hedge funds.
Welltower stock opened at $57.64 on Friday. The company has a market cap of $21.14 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 2.37 and a beta of 0.23. Welltower Inc has a 52-week low of $49.58 and a 52-week high of $78.17. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.79.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 23rd. Shareholders of record on Tuesday, May 8th were issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 6.04%. The ex-dividend date was Monday, May 7th. Welltower’s payout ratio is 82.66%.
In other news, Director Gary Whitelaw bought 925 shares of the stock in a transaction dated Tuesday, May 1st. The shares were bought at an average cost of $54.18 per share, with a total value of $50,116.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is currently owned by corporate insiders.
Several research analysts have recently issued reports on the company. Hilliard Lyons raised Welltower from an “underperform” rating to a “neutral” rating in a research note on Friday, April 27th. BMO Capital Markets raised Welltower from an “underperform” rating to a “market perform” rating and set a $55.00 price objective for the company in a research note on Friday, May 18th. ValuEngine raised Welltower from a “hold” rating to a “buy” rating in a research note on Wednesday, March 28th. Zacks Investment Research raised Welltower from a “sell” rating to a “hold” rating in a research note on Friday, May 4th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $60.00 price objective (down previously from $74.00) on shares of Welltower in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $62.86.
Welltower Company Profile
Welltower Inc (NYSE:WELL), an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. The company 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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