Welltower Inc (HCN) was Reiterated by Canaccord Genuity to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 86 from a previous price target of $79 . Canaccord Genuity advised their investors in a research report released on Aug 15, 2016.
Many Wall Street Analysts have commented on Welltower Inc. Company shares were Reiterated by RBC Capital Mkts on Aug 4, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 77 from a previous price target of $72 .Welltower Inc was Downgraded by Hilliard Lyons to ” Underperform” on Aug 2, 2016. Welltower Inc was Downgraded by Morgan Stanley to ” Equal-Weight” on Jun 22, 2016.
On the company’s financial health, Welltower Inc reported $1.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $1.14. The company had revenue of $1076.70 million for the quarter, compared to analysts expectations of $1053.45 million. The company’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS.
Welltower Inc opened for trading at $77.97 and hit $79.42 on the upside on Friday, eventually ending the session at $78.36, with a gain of 0.78% or 0.61 points. The heightened volatility saw the trading volume jump to 16,76,440 shares. Company has a market cap of $28,046 M.
In a different news, on Aug 8, 2016, Scott M Brinker (EVP – Chief Investment Officer) sold 18,424 shares at $76.83 per share price. According to the SEC, on Aug 2, 2016, Scott A Estes (EVP and CFO) sold 3,192 shares at $78.97 per share price. On May 17, 2016, Erin C Ibele (EVP-Head Human Cap.&Corp.Secy.) sold 2,500 shares at $72.10 per share price, according to the Form-4 filing with the securities and exchange commission.
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.