Welltower (NYSE:WELL) Announces Earnings Results

Welltower (NYSE:WELL) released its quarterly earnings results on Monday. The real estate investment trust reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.08, Zacks reports. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.89 billion. Welltower had a net margin of 8.36% and a return on equity of 2.28%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.90 earnings per share. Welltower updated its FY24 guidance to $4.13-4.21 EPS.

Welltower Stock Performance

WELL stock traded down $0.04 on Wednesday, reaching $112.20. The company’s stock had a trading volume of 105,682 shares, compared to its average volume of 2,662,857. Welltower has a 52 week low of $78.38 and a 52 week high of $115.33. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.83 and a quick ratio of 3.83. The company has a market capitalization of $67.09 billion, a P/E ratio of 138.59, a price-to-earnings-growth ratio of 2.75 and a beta of 1.18. The firm has a fifty day moving average of $104.65 and a two-hundred day moving average of $96.64.

Welltower Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 21st. Stockholders of record on Monday, August 12th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Monday, August 12th. This is an increase from Welltower’s previous quarterly dividend of $0.61. This represents a $2.68 annualized dividend and a dividend yield of 2.39%. Welltower’s payout ratio is currently 301.23%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Morgan Stanley raised their price objective on shares of Welltower from $103.00 to $107.50 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Mizuho boosted their price objective on Welltower from $98.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Wells Fargo & Company increased their target price on Welltower from $107.00 to $111.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. KeyCorp lifted their target price on Welltower from $95.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 2nd. Finally, StockNews.com lowered Welltower from a “hold” rating to a “sell” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.32.

Insider Buying and Selling at Welltower

In other news, Director Kenneth J. Bacon sold 1,800 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $103.91, for a total value of $187,038.00. Following the completion of the transaction, the director now owns 14,579 shares of the company’s stock, valued at $1,514,903.89. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.12% of the stock is owned by company insiders.

Welltower Company Profile

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.