Fred Alger Management LLC Has $9.35 Million Position in Welltower Inc. (NYSE:WELL)

Fred Alger Management LLC boosted its stake in shares of Welltower Inc. (NYSE:WELL) by 67.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,033 shares of the real estate investment trust’s stock after purchasing an additional 29,306 shares during the quarter. Fred Alger Management LLC’s holdings in Welltower were worth $9,350,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC boosted its holdings in shares of Welltower by 37.0% during the 3rd quarter. Fortitude Family Office LLC now owns 289 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 78 shares during the period. Old North State Wealth Management LLC lifted its position in Welltower by 0.6% during the 3rd quarter. Old North State Wealth Management LLC now owns 12,864 shares of the real estate investment trust’s stock worth $1,648,000 after acquiring an additional 78 shares during the last quarter. Frank Rimerman Advisors LLC boosted its holdings in Welltower by 0.9% during the third quarter. Frank Rimerman Advisors LLC now owns 9,617 shares of the real estate investment trust’s stock valued at $1,231,000 after acquiring an additional 82 shares during the period. Valeo Financial Advisors LLC grew its position in shares of Welltower by 2.6% in the third quarter. Valeo Financial Advisors LLC now owns 3,668 shares of the real estate investment trust’s stock valued at $470,000 after purchasing an additional 94 shares during the last quarter. Finally, GHP Investment Advisors Inc. increased its stake in shares of Welltower by 14.1% in the third quarter. GHP Investment Advisors Inc. now owns 775 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 96 shares during the period. Institutional investors and hedge funds own 94.80% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on WELL shares. Deutsche Bank Aktiengesellschaft increased their target price on Welltower from $115.00 to $137.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Scotiabank raised their price objective on shares of Welltower from $133.00 to $142.00 and gave the stock a “sector outperform” rating in a research note on Monday, November 25th. Wolfe Research raised shares of Welltower to a “strong-buy” rating in a research report on Friday, August 9th. Royal Bank of Canada increased their price target on shares of Welltower from $101.00 to $114.00 and gave the company a “sector perform” rating in a report on Friday, August 9th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $135.00 price objective (up previously from $134.00) on shares of Welltower in a report on Tuesday, October 1st. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $117.50.

Welltower Stock Performance

NYSE:WELL opened at $138.18 on Friday. The firm has a market capitalization of $86.04 billion, a PE ratio of 90.91, a price-to-earnings-growth ratio of 3.12 and a beta of 1.20. The company has a quick ratio of 4.10, a current ratio of 4.10 and a debt-to-equity ratio of 0.51. Welltower Inc. has a 12-month low of $85.40 and a 12-month high of $140.75. The firm has a 50-day moving average price of $132.24 and a 200 day moving average price of $118.22.

Welltower (NYSE:WELL) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.31). The company had revenue of $2.06 billion during the quarter, compared to analyst estimates of $1.95 billion. Welltower had a return on equity of 3.20% and a net margin of 12.22%. The company’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 earnings per share. Research analysts anticipate that Welltower Inc. will post 4.3 earnings per share for the current fiscal year.

Welltower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Wednesday, November 13th were paid a $0.67 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $2.68 annualized dividend and a dividend yield of 1.94%. Welltower’s dividend payout ratio is presently 176.32%.

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.