Hartford Investment Management Co. Has $4.67 Million Stock Position in Welltower Inc. (NYSE:WELL)

Hartford Investment Management Co. lowered its stake in shares of Welltower Inc. (NYSE:WELL) by 4.8% during the third quarter, HoldingsChannel reports. The firm owned 36,483 shares of the real estate investment trust’s stock after selling 1,856 shares during the quarter. Hartford Investment Management Co.’s holdings in Welltower were worth $4,671,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. First Foundation Advisors bought a new stake in Welltower during the second quarter worth $26,000. TruNorth Capital Management LLC acquired a new position in shares of Welltower during the 2nd quarter worth about $27,000. Meeder Asset Management Inc. bought a new stake in shares of Welltower in the 2nd quarter valued at about $30,000. Manchester Capital Management LLC raised its holdings in shares of Welltower by 338.7% in the 1st quarter. Manchester Capital Management LLC now owns 329 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 254 shares during the period. Finally, Centerpoint Advisors LLC acquired a new stake in Welltower in the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 94.80% of the company’s stock.

Welltower Stock Performance

Shares of NYSE:WELL opened at $131.77 on Thursday. The company has a quick ratio of 4.07, a current ratio of 4.07 and a debt-to-equity ratio of 0.47. Welltower Inc. has a 12-month low of $80.80 and a 12-month high of $132.54. The company’s 50 day moving average price is $125.03 and its two-hundred day moving average price is $110.40. The firm has a market cap of $78.79 billion, a PE ratio of 162.68, a PEG ratio of 2.87 and a beta of 1.21.

Welltower (NYSE:WELL) last issued its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.08. The business 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 firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.90 earnings per share. Equities research analysts predict that Welltower Inc. will post 4.19 earnings per share for the current year.

Welltower Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Monday, August 12th were given a dividend of $0.67 per share. This is a boost from Welltower’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.68 annualized dividend and a yield of 2.03%. Welltower’s dividend payout ratio is currently 330.86%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wolfe Research upgraded Welltower to a “strong-buy” rating in a research note on Friday, August 9th. Scotiabank increased their price target on Welltower from $121.00 to $133.00 and gave the company a “sector outperform” rating in a research note on Monday, September 23rd. Royal Bank of Canada lifted their price objective on shares of Welltower from $101.00 to $114.00 and gave the stock a “sector perform” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Welltower from $115.00 to $137.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, KeyCorp lifted their target price on shares of Welltower from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Welltower presently has an average rating of “Moderate Buy” and a consensus target price of $115.38.

Welltower Company Profile

Welltower Inc (NYSE:WELL), a real estate investment trust (“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 infrastructure needed to scale innovative care delivery models and improve people’s wellness and overall health care experience.