Charles Schwab Investment Management Inc. has increased its stake in Welltower Inc. (NYSE: WELL) by 5.4% in the second quarter of 2023, according to its latest Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor now holds a total of 7,329,291 shares of the real estate investment trust (REIT) after acquiring an additional 372,697 shares during this period. As of the end of the reporting period, the value of Charles Schwab’s investment in Welltower was approximately $1.13 billion.
Multiple other institutional investors have also adjusted their positions in Welltower recently. For example, Zions Bancorporation National Association UT increased its stake by 4.2% during the same quarter, now owning 1,604 shares valued at $247,000 after purchasing 65 additional shares. Similarly, Cornerstone Wealth Group LLC raised its holdings by 4.7%, bringing its total to 1,460 shares worth $225,000 after an acquisition of 66 shares.
Rise Advisors LLC saw a significant increase of 23.3% in its holdings during the first quarter, now possessing 365 shares valued at $56,000 following the purchase of 69 shares. Bridgewater Advisors Inc. and Orion Capital Management LLC also grew their investments in Welltower by 5.1% and 5.6%, respectively, as both firms continued to see potential in the REIT. Institutional investors and hedge funds collectively own approximately 94.80% of Welltower’s stock.
Welltower Stock Performance and Dividend Announcement
On Friday, Welltower shares opened at $199.90. The stock has experienced a 52-week range, with a low of $123.11 and a high of $201.42. Financial metrics reveal a quick ratio of 4.19, a current ratio of 5.47, and a debt-to-equity ratio of 0.43. The REIT boasts a market capitalization of $137.20 billion and a price-to-earnings ratio of 137.86.
On the dividend front, Welltower recently declared a quarterly dividend of $0.74 per share, which was distributed on November 20, 2023. Shareholders of record as of November 11, 2023, were eligible for this distribution, with the ex-dividend date set for November 10, 2023. This translates to an annualized dividend of $2.96 with a yield of 1.5%. Notably, Welltower’s dividend payout ratio stands at 204.14%.
Analyst Ratings and Market Sentiment
Recent reports from equity analysts indicate a mixed but generally positive outlook for Welltower. Wall Street Zen upgraded the company from a “sell” rating to a “hold” rating in a note published on Saturday. Meanwhile, Weiss Ratings reaffirmed a “buy (B-)” rating on the stock.
Wells Fargo & Company raised its price target for Welltower from $185.00 to $200.00, assigning an “overweight” rating as of October 21, 2023. Morgan Stanley also increased its price target to $200.00 and provided the same “overweight” designation. National Bankshares set a higher price target of $246.00 on October 17, 2023.
Currently, one research analyst has rated Welltower as a Strong Buy, eleven have given it a Buy rating, one has issued a Hold rating, and one has designated it as a Sell. According to data from MarketBeat, the overall consensus rating for the stock is “Moderate Buy,” with an average target price of $192.73.
Welltower Inc., based in Toledo, Ohio, is a leading real estate investment trust focused on health care infrastructure. The company collaborates with top senior housing operators, post-acute providers, and health systems to enhance the delivery of innovative care models. This strategic approach aims to improve wellness and the overall health care experience for individuals.
For those interested in the latest financial activities related to Welltower, up-to-date information on hedge fund holdings and insider trades can be accessed through industry platforms.
