Muzinich & Co. Inc. lowered its stake in shares of Welltower Inc. (NYSE:HCN) by 72.7% during the second quarter, Holdings Channel reports. The firm owned 2,021 shares of the real estate investment trust’s stock after selling 5,391 shares during the period. Muzinich & Co. Inc.’s holdings in Welltower were worth $154,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. NN Investment Partners Holdings N.V. purchased a new position in shares of Welltower during the first quarter valued at about $153,095,000. Nuveen Asset Management LLC increased its position in shares of Welltower by 21.8% in the first quarter. Nuveen Asset Management LLC now owns 2,919,960 shares of the real estate investment trust’s stock valued at $202,470,000 after buying an additional 523,428 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Welltower by 18.3% in the first quarter. Renaissance Technologies LLC now owns 2,466,000 shares of the real estate investment trust’s stock valued at $170,992,000 after buying an additional 381,800 shares in the last quarter. State Street Corp increased its position in shares of Welltower by 1.5% in the first quarter. State Street Corp now owns 20,368,110 shares of the real estate investment trust’s stock valued at $1,412,324,000 after buying an additional 301,240 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Welltower by 36.6% in the second quarter. American Century Companies Inc. now owns 796,699 shares of the real estate investment trust’s stock valued at $60,685,000 after buying an additional 213,467 shares in the last quarter. Institutional investors and hedge funds own 87.85% of the company’s stock.
Shares of Welltower Inc. (NYSE:HCN) traded down 1.37% on Friday, reaching $74.77. 2,126,304 shares of the company were exchanged. Welltower Inc. has a 12 month low of $52.80 and a 12 month high of $80.19. The company has a market cap of $26.76 billion, a price-to-earnings ratio of 40.46 and a beta of 0.43. The company’s 50-day moving average price is $76.01 and its 200 day moving average price is $73.19.
Welltower (NYSE:HCN) last announced its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.01. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.04 billion. Welltower had a net margin of 17.15% and a return on equity of 5.08%. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.09 earnings per share. On average, equities research analysts expect that Welltower Inc. will post $4.58 EPS for the current year.
Several equities analysts recently issued reports on the stock. RBC Capital Markets reissued a “sector perform” rating and set a $77.00 price target (up from $72.00) on shares of Welltower in a report on Thursday, August 4th. JPMorgan Chase & Co. reissued a “hold” rating and set a $72.00 price target on shares of Welltower in a report on Thursday, June 30th. Citigroup Inc. lifted their price target on shares of Welltower from $73.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, August 11th. Royal Bank Of Canada lifted their price target on shares of Welltower from $72.00 to $77.00 and gave the company a “sector perform” rating in a report on Thursday, August 4th. Finally, Hilliard Lyons downgraded shares of Welltower from a “neutral” rating to an “underperform” rating in a report on Tuesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $72.25.
In other Welltower news, COO Jeffrey H. Miller sold 24,777 shares of the stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $78.00, for a total transaction of $1,932,606.00. Following the sale, the chief operating officer now directly owns 136,095 shares in the company, valued at $10,615,410. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott A. Estes sold 3,192 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $78.97, for a total transaction of $252,072.24. Following the sale, the chief financial officer now owns 133,126 shares in the company, valued at $10,512,960.22. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.
Welltower Company Profile
Welltower Inc, formerly Health Care REIT, Inc, is a provider of healthcare infrastructure. The Company operates through three segments: triple-net, which includes independent living facilities, independent supportive living facilities (Canada), continuing care retirement communities, assisted living facilities, care homes with and without nursing (United Kingdom), Alzheimer’s/dementia care facilities, long-term/post-acute care facilities and hospitals; seniors housing operating, which includes a range of facility types, including independent living facilities and independent supportive living facilities, assisted living facilities, care homes and Alzheimer’s/dementia care facilities, and outpatient medical, which includes outpatient medical buildings.
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