Welltower (NYSE:WELL) Issues Quarterly Earnings Results

Welltower (NYSE:WELL) issued its quarterly earnings results on Monday. The real estate investment trust reported $0.73 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.31), Zacks reports. Welltower had a net margin of 8.36% and a return on equity of 2.21%. The firm had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same period in the prior year, the firm earned $0.92 EPS. Welltower’s revenue for the quarter was up 23.7% compared to the same quarter last year. Welltower updated its FY24 guidance to $4.27-$4.33 EPS and its FY 2024 guidance to 4.270-4.330 EPS.

Welltower Price Performance

WELL traded up $3.72 during trading hours on Tuesday, hitting $134.29. The company’s stock had a trading volume of 1,181,128 shares, compared to its average volume of 2,665,025. The business’s 50-day moving average price is $125.93 and its 200-day moving average price is $111.38. Welltower has a 12 month low of $80.80 and a 12 month high of $136.00. The stock has a market cap of $80.29 billion, a price-to-earnings ratio of 166.11, a P/E/G ratio of 2.91 and a beta of 1.21. The company has a current ratio of 4.07, a quick ratio of 4.07 and a debt-to-equity ratio of 0.47.

Analysts Set New Price Targets

WELL has been the topic of several analyst reports. Wedbush lifted their price target on shares of Welltower from $100.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Welltower from $115.00 to $137.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Wells Fargo & Company reissued an “equal weight” rating and issued a $135.00 target price (up previously from $134.00) on shares of Welltower in a report on Tuesday, October 1st. StockNews.com downgraded shares of Welltower from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Finally, Wolfe Research raised shares of Welltower to a “strong-buy” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $115.38.

About Welltower

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.