Welltower (NYSE:WELL) Issues FY24 Earnings Guidance

Welltower (NYSE:WELL) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $4.02-4.15 for the period, compared to the consensus earnings per share estimate of $4.06.

Welltower Trading Up 1.5 %

WELL traded up $1.44 during mid-day trading on Monday, hitting $95.78. The stock had a trading volume of 2,607,306 shares, compared to its average volume of 2,541,818. The stock’s fifty day simple moving average is $92.06 and its 200-day simple moving average is $89.47. The firm has a market capitalization of $56.61 billion, a price-to-earnings ratio of 148.69, a price-to-earnings-growth ratio of 2.39 and a beta of 1.08. Welltower has a 1-year low of $72.47 and a 1-year high of $95.83. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.22 and a quick ratio of 3.22.

Welltower (NYSE:WELL) last posted its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.79). Welltower had a return on equity of 1.47% and a net margin of 5.12%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the company posted $0.83 earnings per share. Welltower’s revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, research analysts forecast that Welltower will post 4.05 EPS for the current fiscal year.

Welltower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was Thursday, February 22nd. Welltower’s dividend payout ratio is currently 381.25%.

Analyst Upgrades and Downgrades

WELL has been the subject of a number of recent analyst reports. KeyCorp raised their price objective on Welltower from $90.00 to $95.00 and gave the company an overweight rating in a research report on Friday, January 5th. BNP Paribas assumed coverage on shares of Welltower in a research report on Monday, March 18th. They set an outperform rating and a $104.00 price objective for the company. Scotiabank dropped their price objective on shares of Welltower from $97.00 to $96.00 and set a sector outperform rating on the stock in a research report on Monday, March 4th. StockNews.com downgraded shares of Welltower from a hold rating to a sell rating in a report on Friday, March 29th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Welltower in a research note on Tuesday, January 30th. They issued a buy rating and a $115.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Welltower currently has an average rating of Moderate Buy and an average 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.