JPMorgan Chase & Co. Upgrades Welltower (NYSE:WELL) to “Overweight”

Welltower (NYSE:WELLGet Rating) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Wednesday, MarketBeat Ratings reports. The firm currently has a $89.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $94.00. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 8.92% from the company’s previous close.

Several other brokerages have also issued reports on WELL. Raymond James boosted their price objective on Welltower from $100.00 to $105.00 and gave the company a “strong-buy” rating in a research report on Friday, March 18th. Morgan Stanley increased their price target on Welltower from $95.50 to $100.00 in a research note on Thursday, March 17th. Barclays increased their price objective on Welltower from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, March 10th. Scotiabank upgraded Welltower from a “sector perform” rating to a “sector outperform” rating and set a $110.00 price target on the stock in a research report on Monday, April 4th. Finally, Credit Suisse Group raised Welltower from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $92.00 to $100.00 in a research note on Wednesday, May 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Welltower has a consensus rating of “Moderate Buy” and an average target price of $98.93.

Shares of WELL stock opened at $81.71 on Wednesday. Welltower has a 1 year low of $76.56 and a 1 year high of $99.43. The firm’s fifty day simple moving average is $87.96 and its 200 day simple moving average is $87.52. The firm has a market capitalization of $37.09 billion, a P/E ratio of 108.95, a price-to-earnings-growth ratio of 3.57 and a beta of 0.98. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.78.

Welltower (NYSE:WELLGet Rating) last issued its earnings results on Tuesday, May 10th. The real estate investment trust reported $0.14 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.68). The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.38 billion. Welltower had a net margin of 6.42% and a return on equity of 1.81%. The firm’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.80 EPS. Equities research analysts anticipate that Welltower will post 3.52 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Welltower by 4.2% in the first quarter. Vanguard Group Inc. now owns 71,733,837 shares of the real estate investment trust’s stock valued at $6,896,491,000 after purchasing an additional 2,912,151 shares during the period. BlackRock Inc. lifted its holdings in Welltower by 8.1% during the fourth quarter. BlackRock Inc. now owns 47,651,136 shares of the real estate investment trust’s stock worth $4,087,042,000 after buying an additional 3,564,148 shares during the period. Cohen & Steers Inc. lifted its holdings in Welltower by 2.2% during the first quarter. Cohen & Steers Inc. now owns 35,199,497 shares of the real estate investment trust’s stock worth $3,384,634,000 after buying an additional 766,616 shares during the period. State Street Corp lifted its holdings in Welltower by 9.2% during the first quarter. State Street Corp now owns 30,173,175 shares of the real estate investment trust’s stock worth $2,900,849,000 after buying an additional 2,554,309 shares during the period. Finally, Norges Bank acquired a new position in shares of Welltower during the fourth quarter worth $1,334,568,000. Hedge funds and other institutional investors own 93.79% of the company’s stock.

Welltower Company Profile (Get Rating)

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.

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