Welltower (NYSE:WELL) Releases Earnings Results

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

Welltower Stock Performance

Shares of WELL stock opened at $138.48 on Thursday. The firm’s 50 day moving average is $126.79 and its 200 day moving average is $111.90. The company has a current ratio of 4.07, a quick ratio of 4.07 and a debt-to-equity ratio of 0.47. Welltower has a 12 month low of $82.54 and a 12 month high of $139.80. The stock has a market capitalization of $82.80 billion, a P/E ratio of 170.96, a PEG ratio of 2.91 and a beta of 1.21.

Welltower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Wednesday, November 13th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Wednesday, November 13th. Welltower’s payout ratio is currently 330.86%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WELL. Wells Fargo & Company reiterated an “equal weight” rating and set a $135.00 price target (up previously from $134.00) on shares of Welltower in a report on Tuesday, October 1st. Scotiabank upped their price objective on shares of Welltower from $121.00 to $133.00 and gave the company a “sector outperform” rating in a report on Monday, September 23rd. Morgan Stanley boosted their target price on shares of Welltower from $103.00 to $107.50 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. StockNews.com raised shares of Welltower from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Evercore ISI upped their price objective on shares of Welltower from $106.00 to $114.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $115.38.

Welltower Company 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.