The Brookfield Asset Management Inc. Decreases Stake in Welltower Inc. (HCN), Report finds

The Brookfield Asset Management Inc. Decreases Stake in Welltower Inc. (HCN), Report finds

Other hedge funds have also added to or reduced their stakes in the company. Spinnaker Trust increased its stake in Welltower by 16.2% in the second quarter. Spinnaker Trust now owns 25,253 shares of the real estate investment trust’s stock valued at $1,924,000 after buying an additional 3,518 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Welltower by 7.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 86,417 shares of the real estate investment trust’s stock valued at $6,582,000 after buying an additional 5,838 shares during the period. Veritas Asset Management LLP increased its stake in Welltower by 23.3% in the second quarter. Veritas Asset Management LLP now owns 528,300 shares of the real estate investment trust’s stock valued at $40,241,000 after buying an additional 100,000 shares during the period. California State Teachers Retirement System increased its stake in Welltower by 2.9% in the second quarter. California State Teachers Retirement System now owns 778,661 shares of the real estate investment trust’s stock valued at $59,311,000 after buying an additional 22,113 shares during the period. Finally, Ngam Advisors L.P. increased its stake in Welltower by 8.6% in the second quarter. Ngam Advisors L.P. now owns 226,697 shares of the real estate investment trust’s stock valued at $17,268,000 after buying an additional 17,911 shares during the period. Institutional investors own 84.96% of the company’s stock.

Brookfield Asset Management Inc. cut its position in shares of Welltower Inc. (NYSE:HCN) by 2.6% during the third quarter, Holdings Channel reports. The fund owned 2,165,408 shares of the real estate investment trust’s stock after selling 57,340 shares during the period. Welltower comprises approximately 0.9% of Brookfield Asset Management Inc.’s portfolio, making the stock its 14th largest position. Brookfield Asset Management Inc.’s holdings in Welltower were worth $161,908,000 at the end of the most recent reporting period.

Shares of Welltower Inc. (NYSE:HCN) traded down 0.27% during midday trading on Monday, reaching $65.69. 192,243 shares of the company traded hands. The firm has a market capitalization of $23.81 billion, a P/E ratio of 28.98 and a beta of 0.19. The company has a 50 day moving average of $66.47 and a 200 day moving average of $69.84. Welltower Inc. has a 12 month low of $53.50 and a 12 month high of $80.19.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 21st. Shareholders of record on Tuesday, February 7th will be issued a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 5.28%. This is a boost from Welltower’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Friday, February 3rd. Welltower’s dividend payout ratio (DPR) is presently 153.98%.

HCN has been the subject of several research reports. Mizuho dropped their target price on shares of Welltower from $75.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, November 3rd. Canaccord Genuity reiterated a “buy” rating and issued a $86.00 target price on shares of Welltower in a report on Tuesday, December 13th. Barclays PLC reiterated a “buy” rating and issued a $73.00 target price on shares of Welltower in a report on Monday, January 9th. Jefferies Group LLC reiterated a “hold” rating and issued a $63.00 target price on shares of Welltower in a report on Tuesday, January 31st. Finally, SunTrust Banks, Inc. downgraded shares of Welltower from a “buy” rating to a “hold” rating and dropped their target price for the company from $80.00 to $72.00 in a report on Thursday, January 19th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company’s stock. Welltower currently has a consensus rating of “Hold” and an average target price of $73.06.

Welltower Company Profile

Welltower Inc, formerly Health Care REIT, Inc, is a provider of healthcare infrastructure. The Company operates through three segments: triple-net, which includes independent living facilities, independent supportive living facilities (Canada), continuing care retirement communities, assisted living facilities, care homes with and without nursing (United Kingdom), Alzheimer’s/dementia care facilities, long-term/post-acute care facilities and hospitals; seniors housing operating, which includes a range of facility types, including independent living facilities and independent supportive living facilities, assisted living facilities, care homes and Alzheimer’s/dementia care facilities, and outpatient medical, which includes outpatient medical buildings.

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