Welltower (NYSE:WELL) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Welltower (NYSE:WELL) released its quarterly earnings results on Monday. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.08, Zacks reports. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.89 billion. Welltower had a return on equity of 2.28% and a net margin of 8.36%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 EPS. Welltower updated its FY24 guidance to $4.13-4.21 EPS.

Welltower Stock Performance

NYSE:WELL opened at $112.26 on Wednesday. Welltower has a twelve month low of $78.38 and a twelve month high of $115.33. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.50. The stock’s 50-day simple moving average is $104.65 and its 200 day simple moving average is $96.64. The firm has a market capitalization of $67.12 billion, a PE ratio of 138.59, a price-to-earnings-growth ratio of 2.75 and a beta of 1.18.

Welltower Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 21st. Investors of record on Monday, August 12th will be given a dividend of $0.67 per share. This is an increase from Welltower’s previous quarterly dividend of $0.61. This represents a $2.68 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Monday, August 12th. Welltower’s dividend payout ratio is currently 301.23%.

Analyst Ratings Changes

WELL has been the subject of a number of recent research reports. Morgan Stanley boosted their target price 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. Wells Fargo & Company boosted their price objective on shares of Welltower from $107.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Scotiabank raised their target price on shares of Welltower from $96.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 16th. KeyCorp lifted their price target on shares of Welltower from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, July 2nd. Finally, Evercore ISI increased their price target on Welltower from $95.00 to $97.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $101.32.

Insiders Place Their Bets

In other news, Director Kenneth J. Bacon sold 1,800 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $103.91, for a total value of $187,038.00. Following the sale, the director now directly owns 14,579 shares in the company, valued at approximately $1,514,903.89. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.12% of the company’s stock.

About Welltower

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.