PNC Financial Services Group Inc. Acquires 6,645 Shares of Welltower Inc. (NYSE:WELL)

PNC Financial Services Group Inc. boosted its stake in shares of Welltower Inc. (NYSE:WELL) by 3.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 219,460 shares of the real estate investment trust’s stock after buying an additional 6,645 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Welltower were worth $33,623,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. bought a new stake in shares of Welltower during the first quarter valued at approximately $28,000. Smallwood Wealth Investment Management LLC purchased a new position in shares of Welltower in the 1st quarter worth approximately $28,000. Hughes Financial Services LLC bought a new position in Welltower in the 1st quarter valued at $31,000. Franchise Capital Ltd bought a new position in Welltower during the first quarter valued at about $32,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Welltower during the 1st quarter worth approximately $32,000. 94.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WELL has been the subject of several recent research reports. Wells Fargo & Company lifted their price target on Welltower from $158.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, June 2nd. Wall Street Zen cut shares of Welltower from a “hold” rating to a “sell” rating in a research report on Thursday, May 8th. Scotiabank reissued an “outperform” rating on shares of Welltower in a research note on Monday, June 23rd. Wedbush restated an “underperform” rating on shares of Welltower in a report on Thursday, April 17th. Finally, Evercore ISI raised their target price on Welltower from $162.00 to $175.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $169.82.

Insider Buying and Selling

In other Welltower news, Director Andrew Gundlach acquired 20,000 shares of the stock in a transaction dated Monday, June 30th. The shares were acquired at an average cost of $151.46 per share, for a total transaction of $3,029,200.00. Following the completion of the transaction, the director directly owned 20,000 shares of the company’s stock, valued at approximately $3,029,200. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.21% of the stock is currently owned by corporate insiders.

Welltower Stock Up 0.8%

NYSE WELL opened at $166.32 on Monday. The stock’s 50-day moving average price is $155.13 and its 200-day moving average price is $149.34. The company has a market capitalization of $111.24 billion, a P/E ratio of 93.97, a price-to-earnings-growth ratio of 1.90 and a beta of 0.93. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 0.44. Welltower Inc. has a 52 week low of $110.74 and a 52 week high of $168.84.

Welltower (NYSE:WELL) last released its earnings results on Monday, July 28th. The real estate investment trust reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The company had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Welltower had a net margin of 12.18% and a return on equity of 3.38%. The firm’s revenue was up 39.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.05 EPS. On average, equities research analysts predict that Welltower Inc. will post 4.88 earnings per share for the current year.

Welltower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Tuesday, August 12th will be issued a dividend of $0.74 per share. This is a boost from Welltower’s previous quarterly dividend of $0.67. This represents a $2.96 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, August 12th. Welltower’s payout ratio is 167.23%.

Welltower 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.