Sumitomo Mitsui Asset Management Company Ltd Lowers stake in Welltower Inc (HCN)

Welltower Inc (HCN) : Sumitomo Mitsui Asset Management Company Ltd reduced its stake in Welltower Inc by 6.78% during the most recent quarter end. The investment management company now holds a total of 504,570 shares of Welltower Inc which is valued at $36.2 Million after selling 36,697 shares in Welltower Inc , the firm said in a disclosure report filed with the SEC on May 11, 2016.Welltower Inc makes up approximately 1.12% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio.

Other Hedge Funds, Including , Advisors Management Group Inc Adv boosted its stake in HCN in the latest quarter, The investment management firm added 1,768 additional shares and now holds a total of 62,438 shares of Welltower Inc which is valued at $4.5 Million. Welltower Inc makes up approx 3.26% of Advisors Management Group Inc Adv’s portfolio.Tdam Usa boosted its stake in HCN in the latest quarter, The investment management firm added 19,625 additional shares and now holds a total of 213,251 shares of Welltower Inc which is valued at $15.7 Million. Welltower Inc makes up approx 0.77% of Tdam Usa’s portfolio.Commonwealth Equity Services Inc boosted its stake in HCN in the latest quarter, The investment management firm added 165 additional shares and now holds a total of 64,189 shares of Welltower Inc which is valued at $4.5 Million. Welltower Inc makes up approx 0.04% of Commonwealth Equity Services Inc’s portfolio.Investment Centers Of America Inc boosted its stake in HCN in the latest quarter, The investment management firm added 4,765 additional shares and now holds a total of 37,219 shares of Welltower Inc which is valued at $2.6 Million. Welltower Inc makes up approx 0.29% of Investment Centers Of America Inc’s portfolio.Texas Permanent School Fund reduced its stake in HCN by selling 2,161 shares or 1.73% in the most recent quarter. The Hedge Fund company now holds 122,419 shares of HCN which is valued at $8.5 Million. Welltower Inc makes up approx 0.11% of Texas Permanent School Fund’s portfolio.

Welltower Inc opened for trading at $71.75 and hit $73.18 on the upside on Monday, eventually ending the session at $72.64, with a gain of 1.21% or 0.87 points. The heightened volatility saw the trading volume jump to 13,97,037 shares. Company has a market cap of $25,932 M.

On the company’s financial health, Welltower Inc reported $1.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 3, 2016. Analyst had a consensus of $1.12. The company had revenue of $1047.10 million for the quarter, compared to analysts expectations of $1033.07 million. The company’s revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS.

Many Wall Street Analysts have commented on Welltower Inc. Company shares were Reiterated by Stifel on May 4, 2016 to “Buy”, Firm has raised the Price Target to $ 76 from a previous price target of $73 .RBC Capital Mkts Downgraded Welltower Inc on Apr 1, 2016 to ” Sector Perform”, Price Target of the shares are set at $70.Shares were Reiterated by RBC Capital Mkts on Feb 22, 2016 to “Outperform” and Lowered the Price Target to $ 70 from a previous price target of $73 .

Welltower Inc. formerly Health Care REIT Inc. is a real estate investment trust (REIT). The Company’s portfolio has range of seniors housing and healthcare real estate including seniors housing communities nursing/post-acute facilities medical office buildings inpatient and outpatient medical centers and life science facilities. The Company operates in three segments: seniors housing triple-net seniors housing operating and medical facilities. Its properties consist of land building improvements and related rights. The Company’s hospitals and seniors housing triple-net properties are leased to operators under long-term operating leases. Its medical office building portfolio is primarily self-managed and consists principally of multi-tenant properties leased to health care providers.

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