Welltower (NYSE:WELL) Issues FY24 Earnings Guidance

Welltower (NYSE:WELL) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $4.02-4.15 for the period, compared to the consensus EPS estimate of $4.06.

Welltower Trading Up 1.5 %

WELL stock traded up $1.44 during mid-day trading on Monday, reaching $95.78. 2,607,887 shares of the stock traded hands, compared to its average volume of 2,542,752. The company has a market cap of $56.61 billion, a P/E ratio of 148.69, a P/E/G ratio of 2.39 and a beta of 1.08. Welltower has a 52-week low of $72.47 and a 52-week high of $95.83. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 0.60. The stock’s fifty day moving average is $92.06 and its 200-day moving average is $89.47.

Welltower (NYSE:WELL) last issued its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.79). Welltower had a net margin of 5.12% and a return on equity of 1.47%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the company earned $0.83 EPS. Welltower’s revenue for the quarter was up 15.2% on a year-over-year basis. As a group, sell-side analysts expect that Welltower will post 4.05 earnings per share for the current year.

Welltower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were issued a $0.61 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.44 dividend on an annualized basis and a yield of 2.55%. Welltower’s dividend payout ratio is currently 381.25%.

Analyst Upgrades and Downgrades

WELL has been the topic of several analyst reports. Scotiabank lowered their price target on Welltower from $97.00 to $96.00 and set a sector outperform rating on the stock in a report on Monday, March 4th. Deutsche Bank Aktiengesellschaft started coverage on Welltower in a research report on Tuesday, January 30th. They issued a buy rating and a $115.00 price objective for the company. KeyCorp increased their price objective on Welltower from $90.00 to $95.00 and gave the company an overweight rating in a research report on Friday, January 5th. StockNews.com cut Welltower from a hold rating to a sell rating in a research report on Friday, March 29th. Finally, BNP Paribas started coverage on Welltower in a research report on Monday, March 18th. They issued an outperform rating and a $104.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Welltower presently has a consensus rating of Moderate Buy and an average target price of $95.57.

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.