Blue Chip Partners Inc. purchased a new stake in Welltower Inc (NYSE:WELL) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 106,930 shares of the real estate investment trust’s stock, valued at approximately $7,422,000. Welltower comprises about 1.9% of Blue Chip Partners Inc.’s portfolio, making the stock its 15th largest holding.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. DNB Asset Management AS lifted its stake in Welltower by 4.3% in the third quarter. DNB Asset Management AS now owns 46,123 shares of the real estate investment trust’s stock worth $2,967,000 after purchasing an additional 1,896 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD bought a new stake in Welltower in the third quarter worth about $17,276,000. Broderick Brian C bought a new stake in Welltower in the third quarter worth about $643,000. PGGM Investments bought a new stake in Welltower in the third quarter worth about $449,854,000. Finally, State of New Jersey Common Pension Fund D bought a new stake in Welltower in the third quarter worth about $18,653,000. 89.28% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on WELL shares. ValuEngine raised shares of Welltower from a “hold” rating to a “buy” rating in a research note on Wednesday, October 31st. SunTrust Banks raised their price objective on shares of Welltower to $72.00 and gave the stock a “hold” rating in a research note on Wednesday, October 31st. raised their price objective on shares of Welltower to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 31st. Scotiabank started coverage on shares of Welltower in a research note on Monday, December 10th. They issued a “sector perform” rating and a $74.00 price objective for the company. Finally, Wells Fargo & Co raised shares of Welltower from a “market perform” rating to an “outperform” rating in a research note on Tuesday, December 11th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Welltower presently has an average rating of “Buy” and a consensus price target of $65.71.
In other news, EVP Mercedes Kerr sold 4,342 shares of the firm’s stock in a transaction that occurred on Tuesday, December 11th. The shares were sold at an average price of $73.17, for a total transaction of $317,704.14. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.17% of the company’s stock.
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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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