Welltower (NYSE:WELL) Issues Quarterly Earnings Results, Misses Estimates By $0.72 EPS

Welltower (NYSE:WELL) issued its earnings results on Monday. The real estate investment trust reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.72), RTT News reports. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.81 billion. Welltower had a return on equity of 1.77% and a net margin of 6.37%. Welltower’s revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 earnings per share. Welltower updated its FY24 guidance to $4.02-4.15 EPS and its FY 2024 guidance to 4.020-4.150 EPS.

Welltower Stock Down 1.0 %

Shares of NYSE WELL opened at $94.36 on Thursday. The company’s 50-day simple moving average is $92.17 and its 200-day simple moving average is $89.65. Welltower has a 52-week low of $72.47 and a 52-week high of $98.19. The firm has a market cap of $55.77 billion, a price-to-earnings ratio of 116.49, a price-to-earnings-growth ratio of 2.41 and a beta of 1.07. The company has a quick ratio of 3.22, a current ratio of 3.83 and a debt-to-equity ratio of 0.50.

Welltower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Monday, May 13th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $2.44 annualized dividend and a yield of 2.59%. Welltower’s dividend payout ratio is presently 301.23%.

Wall Street Analyst Weigh In

A number of brokerages have commented on WELL. BNP Paribas began coverage on shares of Welltower in a research note on Monday, March 18th. They issued an “outperform” rating and a $104.00 target price on the stock. KeyCorp upped their price target on shares of Welltower from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, January 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Welltower in a research report on Tuesday, January 30th. They issued a “buy” rating and a $115.00 price target for the company. Mizuho upped their price target on shares of Welltower from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Finally, StockNews.com cut shares of Welltower from a “hold” rating to a “sell” rating in a research report on Friday, March 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus 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.