Allspring Global Investments Holdings LLC Increases Position in Welltower Inc. (NYSE:WELL)

Allspring Global Investments Holdings LLC increased its stake in shares of Welltower Inc. (NYSE:WELL) by 3.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,401 shares of the real estate investment trust’s stock after purchasing an additional 1,669 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Welltower were worth $5,776,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. RDA Financial Network lifted its position in shares of Welltower by 0.6% during the second quarter. RDA Financial Network now owns 16,161 shares of the real estate investment trust’s stock valued at $1,685,000 after buying an additional 104 shares during the last quarter. Trueblood Wealth Management LLC boosted its stake in Welltower by 1.2% in the first quarter. Trueblood Wealth Management LLC now owns 9,061 shares of the real estate investment trust’s stock valued at $847,000 after acquiring an additional 109 shares in the last quarter. Simplicity Wealth LLC grew its holdings in Welltower by 0.9% in the second quarter. Simplicity Wealth LLC now owns 12,155 shares of the real estate investment trust’s stock worth $1,267,000 after purchasing an additional 113 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of Welltower by 21.2% during the fourth quarter. First Horizon Advisors Inc. now owns 691 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 121 shares in the last quarter. Finally, Graypoint LLC lifted its holdings in shares of Welltower by 4.8% during the 1st quarter. Graypoint LLC now owns 2,687 shares of the real estate investment trust’s stock valued at $251,000 after purchasing an additional 122 shares during the last quarter. Institutional investors own 94.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Royal Bank of Canada boosted their target price on Welltower from $101.00 to $114.00 and gave the stock a “sector perform” rating in a research note on Friday, August 9th. Wolfe Research upgraded shares of Welltower to a “strong-buy” rating in a report on Friday, August 9th. Morgan Stanley lifted their target price on shares of Welltower from $103.00 to $107.50 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Mizuho upped their price target on shares of Welltower from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, Wells Fargo & Company lifted their price objective on shares of Welltower from $107.00 to $111.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Welltower currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.58.

Welltower Price Performance

NYSE:WELL opened at $120.68 on Friday. The firm’s fifty day moving average is $110.92 and its two-hundred day moving average is $101.08. The firm has a market cap of $72.16 billion, a price-to-earnings ratio of 148.99, a PEG ratio of 2.74 and a beta of 1.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.83 and a current ratio of 4.07. Welltower Inc. has a one year low of $78.38 and a one year high of $121.70.

Welltower (NYSE:WELL) last issued its earnings results on Monday, July 29th. The real estate investment trust reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.08. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.89 billion. Welltower had a return on equity of 2.21% and a net margin of 8.36%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 earnings per share. Research analysts expect that Welltower Inc. will post 4.16 EPS for the current year.

Welltower Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Monday, August 12th were issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 2.22%. This is a positive change from Welltower’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Monday, August 12th. Welltower’s payout ratio is 330.86%.

Insider Activity at Welltower

In related news, Director Kenneth J. Bacon sold 1,800 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $103.91, for a total transaction of $187,038.00. Following the sale, the director now owns 14,579 shares in the company, valued at $1,514,903.89. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.12% of the company’s stock.

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.