Tokio Marine Asset Management Co. Ltd. reduced its position in shares of Welltower Inc. (NYSE:HCN) by 7.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 10,667 shares of the real estate investment trust’s stock after selling 893 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Welltower were worth $813,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the stock. Washington Trust Bank boosted its position in shares of Welltower by 11.1% in the second quarter. Washington Trust Bank now owns 1,498 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 150 shares in the last quarter. Nikko Asset Management Americas Inc. purchased a new position in shares of Welltower during the first quarter valued at about $124,000. Pennsylvania Trust Co purchased a new position in shares of Welltower during the second quarter valued at about $202,000. Kistler Tiffany Companies LLC boosted its position in shares of Welltower by 34.6% in the second quarter. Kistler Tiffany Companies LLC now owns 2,861 shares of the real estate investment trust’s stock valued at $218,000 after buying an additional 735 shares in the last quarter. Finally, Bremer Trust National Association purchased a new position in shares of Welltower during the second quarter valued at about $226,000. 87.85% of the stock is currently owned by institutional investors and hedge funds.
Welltower Inc. (NYSE:HCN) traded down 2.09% on Wednesday, hitting $70.38. 2,847,497 shares of the stock were exchanged. Welltower Inc. has a 52 week low of $52.80 and a 52 week high of $80.19. The company’s 50-day moving average is $75.45 and its 200-day moving average is $73.41. The company has a market cap of $25.19 billion, a PE ratio of 38.08 and a beta of 0.35.
Welltower (NYSE:HCN) last released its earnings results 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 analyst estimates of $1.04 billion. Welltower had a return on equity of 5.08% and a net margin of 17.15%. Welltower’s revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 earnings per share. On average, analysts predict that Welltower Inc. will post $4.58 earnings per share for the current year.
Several equities analysts have issued reports on HCN shares. Citigroup Inc. boosted their price objective on shares of Welltower from $73.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, August 11th. JPMorgan Chase & Co. reissued a “hold” rating and issued a $72.00 price objective on shares of Welltower in a research note on Thursday, June 30th. BTIG Research began coverage on shares of Welltower in a research note on Thursday, August 25th. They set a “neutral” rating on the stock. Canaccord Genuity reaffirmed a “buy” rating and set a $86.00 price target on shares of Welltower in a research note on Tuesday, September 13th. Finally, Morgan Stanley cut shares of Welltower from an “overweight” rating to an “equal weight” rating and set a $69.00 price target on the stock. in a research note on Wednesday, June 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $72.25.
In related news, COO Jeffrey H. Miller sold 24,777 shares of Welltower stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $78.00, for a total transaction of $1,932,606.00. Following the transaction, the chief operating officer now directly owns 136,095 shares of the company’s stock, valued at $10,615,410. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Scott A. Estes sold 3,192 shares of Welltower stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $78.97, for a total value of $252,072.24. Following the transaction, the chief financial officer now directly owns 133,126 shares in the company, valued at $10,512,960.22. The disclosure for this sale can be found here. Corporate 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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