Peapack Gladstone Financial Corp Lowers Stake in Welltower Inc. (NYSE:WELL)

Peapack Gladstone Financial Corp cut its position in Welltower Inc. (NYSE:WELL) by 0.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,198 shares of the real estate investment trust’s stock after selling 102 shares during the period. Peapack Gladstone Financial Corp’s holdings in Welltower were worth $6,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. First Foundation Advisors bought a new position in Welltower in the 2nd quarter worth $26,000. Meeder Asset Management Inc. purchased a new position in shares of Welltower in the second quarter valued at about $30,000. Centerpoint Advisors LLC purchased a new stake in shares of Welltower during the second quarter worth about $31,000. Fortitude Family Office LLC grew its position in shares of Welltower by 37.0% during the third quarter. Fortitude Family Office LLC now owns 289 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 78 shares in the last quarter. Finally, ORG Partners LLC bought a new stake in Welltower during the 2nd quarter valued at approximately $50,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

Welltower Price Performance

Shares of WELL stock opened at $129.12 on Friday. The stock has a 50 day moving average price of $132.95 and a 200 day moving average price of $120.32. Welltower Inc. has a 52-week low of $85.40 and a 52-week high of $140.75. The company has a debt-to-equity ratio of 0.51, a quick ratio of 4.10 and a current ratio of 4.10. The firm has a market capitalization of $80.40 billion, a P/E ratio of 84.95, a P/E/G ratio of 2.88 and a beta of 1.20.

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

Welltower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Wednesday, November 13th were paid a dividend of $0.67 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $2.68 annualized dividend and a dividend yield of 2.08%. Welltower’s dividend payout ratio is currently 176.32%.

Analyst Ratings Changes

Several research analysts have weighed in on WELL shares. Scotiabank upped their price target on Welltower from $133.00 to $142.00 and gave the stock a “sector outperform” rating in a research note on Monday, November 25th. Wells Fargo & Company restated an “equal weight” rating and set a $135.00 target price (up previously from $134.00) on shares of Welltower in a research report on Tuesday, October 1st. StockNews.com raised shares of Welltower from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Welltower from $115.00 to $137.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Mizuho raised their price objective on Welltower from $136.00 to $141.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.77.

About Welltower

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.