Buckhead Capital Management LLC lowered its position in Welltower Inc. (NYSE:HCN) by 33.3% during the third quarter, Holdings Channel reports. The fund owned 27,238 shares of the real estate investment trust’s stock after selling 13,580 shares during the period. Buckhead Capital Management LLC’s holdings in Welltower were worth $2,037,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Hartford Financial Management Inc. purchased a new position in Welltower during the third quarter valued at about $119,000. Advisory Services Network LLC raised its stake in Welltower by 80.9% in the third quarter. Advisory Services Network LLC now owns 1,690 shares of the real estate investment trust’s stock valued at $126,000 after buying an additional 756 shares during the last quarter. Sawtooth Asset Management Inc. acquired a new stake in Welltower during the second quarter valued at approximately $205,000. Pennsylvania Trust Co raised its stake in Welltower by 2.0% in the third quarter. Pennsylvania Trust Co now owns 2,708 shares of the real estate investment trust’s stock valued at $202,000 after buying an additional 54 shares during the last quarter. Finally, Gamble Jones Investment Counsel raised its stake in Welltower by 0.3% in the third quarter. Gamble Jones Investment Counsel now owns 2,891 shares of the real estate investment trust’s stock valued at $216,000 after buying an additional 10 shares during the last quarter. 84.58% of the stock is currently owned by institutional investors and hedge funds.
Welltower Inc. (NYSE:HCN) traded down 1.01% during trading on Thursday, hitting $66.40. 1,764,445 shares of the company were exchanged. The company has a 50-day moving average of $65.68 and a 200-day moving average of $71.07. Welltower Inc. has a 12 month low of $52.80 and a 12 month high of $80.19. The company has a market capitalization of $24.07 billion, a price-to-earnings ratio of 29.29 and a beta of 0.21.
Welltower (NYSE:HCN) last announced its quarterly earnings results on Wednesday, November 2nd. The real estate investment trust reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.01. Welltower had a net margin of 20.74% and a return on equity of 6.37%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the firm earned $1.12 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts forecast that Welltower Inc. will post $2.26 EPS for the current year.
Several research firms have commented on HCN. Mizuho upped their price target on shares of Welltower from $59.00 to $62.00 and gave the company a “neutral” rating in a report on Wednesday, January 11th. Barclays PLC reaffirmed a “buy” rating and issued a $73.00 price target on shares of Welltower in a report on Monday, January 9th. Zacks Investment Research raised shares of Welltower from a “sell” rating to a “hold” rating in a research note on Friday, January 6th. Mitsubishi UFJ Financial Group raised shares of Welltower from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $65.00 to $72.00 in a research note on Thursday, January 5th. Finally, Canaccord Genuity reissued a “buy” rating and set a $86.00 target price on shares of Welltower in a research note on Tuesday, December 13th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $73.00.
In other Welltower news, Director Timothy J. Naughton purchased 2,000 shares of Welltower stock in a transaction on Thursday, November 10th. The shares were bought at an average price of $60.69 per share, with a total value of $121,380.00. Following the completion of the acquisition, the director now directly owns 9,158 shares of the company’s stock, valued at $555,799.02. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.29% of the stock is owned by corporate insiders.
Welltower Company Profile
Welltower Inc, formerly Health Care REIT, Inc, is a provider of healthcare infrastructure. The Company operates through three segments: triple-net, which includes independent living facilities, independent supportive living facilities (Canada), continuing care retirement communities, assisted living facilities, care homes with and without nursing (United Kingdom), Alzheimer’s/dementia care facilities, long-term/post-acute care facilities and hospitals; seniors housing operating, which includes a range of facility types, including independent living facilities and independent supportive living facilities, assisted living facilities, care homes and Alzheimer’s/dementia care facilities, and outpatient medical, which includes outpatient medical buildings.
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