Welltower (NYSE:WELL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks.com reports. The brokerage presently has a $80.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price target points to a potential upside of 6.35% from the company’s previous close.
According to Zacks, “Welltower’s performance in first-quarter 2021 is likely to supported by moderation in occupancy erosion and the rise in vaccination coverage. Notably, in a recently business update, the company announced that it expects to attain the top-end of its first-quarter 2021 normalized funds from operations (FFO) guidance of 71-76 cents. Also, virtually all of its senior housing communities are likely to complete the final scheduled vaccinations by “early to mid April”. However, significant turnaround is less likely and the company’s near-term performance will be hindered. In fact, the senior housing landscape is likely to be competitive in 2021 as operators try to fill unoccupied units. Also, near-term earnings dilution from asset sales cannot be avoided. Shares of the company have underperformed the industry in the past month.”
WELL has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Welltower from $71.00 to $67.00 and set a “buy” rating for the company in a report on Tuesday, January 26th. Bank of America raised shares of Welltower from a “neutral” rating to a “buy” rating and increased their target price for the stock from $73.00 to $78.00 in a research note on Tuesday, March 30th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their target price on shares of Welltower from $50.00 to $65.00 in a research note on Tuesday, December 15th. BMO Capital Markets reaffirmed a “sell” rating and set a $62.00 target price on shares of Welltower in a research note on Monday, January 25th. Finally, Smith Barney Citigroup increased their target price on shares of Welltower from $50.00 to $65.00 in a research note on Tuesday, December 15th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $63.69.
NYSE:WELL traded up $0.11 during trading hours on Monday, reaching $75.22. 30,574 shares of the company were exchanged, compared to its average volume of 2,364,733. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 0.85. The stock’s 50-day moving average is $71.59 and its 200-day moving average is $63.76. The firm has a market cap of $31.40 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 5.10 and a beta of 0.87. Welltower has a twelve month low of $36.08 and a twelve month high of $76.18.
Welltower (NYSE:WELL) last issued its earnings results on Tuesday, February 9th. The real estate investment trust reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.38). The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.13 billion. Welltower had a net margin of 26.20% and a return on equity of 8.64%. Welltower’s quarterly revenue was down 11.1% on a year-over-year basis. During the same quarter last year, the company earned $0.55 earnings per share. As a group, research analysts anticipate that Welltower will post 3.43 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in the business. Optimum Investment Advisors raised its holdings in Welltower by 12.3% during the fourth quarter. Optimum Investment Advisors now owns 1,830 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 200 shares in the last quarter. Cornell Pochily Investment Advisors Inc. increased its holdings in shares of Welltower by 2.3% in the 4th quarter. Cornell Pochily Investment Advisors Inc. now owns 10,373 shares of the real estate investment trust’s stock valued at $670,000 after acquiring an additional 231 shares during the period. Hotaling Investment Management LLC grew its position in Welltower by 2.3% in the 4th quarter. Hotaling Investment Management LLC now owns 10,350 shares of the real estate investment trust’s stock valued at $669,000 after buying an additional 237 shares during the last quarter. Glassman Wealth Services grew its position in Welltower by 17.4% in the 4th quarter. Glassman Wealth Services now owns 1,601 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 237 shares during the last quarter. Finally, Stelac Advisory Services LLC grew its position in Welltower by 3.0% in the 4th quarter. Stelac Advisory Services LLC now owns 8,374 shares of the real estate investment trust’s stock valued at $541,000 after buying an additional 241 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.
Welltower Company Profile
Welltower Inc (NYSE:WELL), an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. The Company 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.
Recommended Story: Hang Seng Index (HSI)
For more information about research offerings from Zacks Investment Research, visit Zacks.com