Welltower Inc. (NYSE:WELL – Get Free Report) announced a quarterly dividend on Monday, July 29th, RTT News reports. Investors of record on Monday, August 12th will be paid a dividend of 0.67 per share by the real estate investment trust on Wednesday, August 21st. This represents a $2.68 annualized dividend and a dividend yield of 2.40%. This is a boost from Welltower’s previous quarterly dividend of $0.61.
Welltower has decreased its dividend by an average of 3.3% annually over the last three years. Welltower has a payout ratio of 138.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Welltower to earn $4.57 per share next year, which means the company should continue to be able to cover its $2.44 annual dividend with an expected future payout ratio of 53.4%.
Welltower Stock Up 1.7 %
WELL traded up $1.87 during midday trading on Monday, hitting $111.65. 3,259,204 shares of the company’s stock traded hands, compared to its average volume of 2,671,377. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.83 and a quick ratio of 3.83. The company has a market cap of $66.76 billion, a PE ratio of 135.53, a price-to-earnings-growth ratio of 2.70 and a beta of 1.18. The stock’s fifty day simple moving average is $104.21 and its 200-day simple moving average is $96.35. Welltower has a one year low of $78.38 and a one year high of $112.16.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on WELL. Wells Fargo & Company upped their price target on Welltower from $107.00 to $111.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Morgan Stanley lifted their price target on shares of Welltower from $103.00 to $107.50 and gave the company an “overweight” rating in a research report on Thursday, July 11th. StockNews.com cut shares of Welltower from a “hold” rating to a “sell” rating in a research note on Friday. Evercore ISI raised their target price on shares of Welltower from $95.00 to $97.00 and gave the company an “in-line” rating in a research note on Tuesday, July 16th. Finally, KeyCorp lifted their target price on shares of Welltower from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Welltower currently has an average rating of “Moderate Buy” and a consensus price target of $101.32.
Read Our Latest Stock Analysis on WELL
Insiders Place Their Bets
In related news, Director Kenneth J. Bacon sold 1,800 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $103.91, for a total value of $187,038.00. Following the completion of the transaction, the director now directly owns 14,579 shares of the company’s stock, valued at $1,514,903.89. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.12% of the company’s stock.
Welltower Company Profile
Welltower Inc (NYSE:WELL), a 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 and infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health care experience.
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