Welltower (NYSE:WELL) Updates FY24 Earnings Guidance

Welltower (NYSE:WELL) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $4.27-$4.33 for the period, compared to the consensus earnings per share estimate of $4.19. Welltower also updated its FY 2024 guidance to 4.270-4.330 EPS.

Welltower Stock Up 5.2 %

Welltower stock opened at $137.34 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 4.07 and a current ratio of 4.07. The stock has a market cap of $82.12 billion, a PE ratio of 169.56, a price-to-earnings-growth ratio of 2.91 and a beta of 1.21. Welltower has a fifty-two week low of $80.80 and a fifty-two week high of $137.73. The firm’s 50-day simple moving average is $126.35 and its 200 day simple moving average is $111.71.

Welltower (NYSE:WELL) last announced 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 2.21% and a net margin of 8.36%. Welltower’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.92 EPS. Research analysts predict that Welltower will post 4.19 EPS for the current fiscal year.

Welltower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Wednesday, November 13th. Welltower’s dividend payout ratio is presently 330.86%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WELL. Royal Bank of Canada boosted their price target on shares of Welltower from $101.00 to $114.00 and gave the stock a “sector perform” rating in a report on Friday, August 9th. KeyCorp increased their target price 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. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Welltower from $115.00 to $137.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Wolfe Research raised Welltower to a “strong-buy” rating in a report on Friday, August 9th. Finally, Evercore ISI boosted their target price on Welltower from $106.00 to $114.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.38.

Welltower Company Profile

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.