Raymond James has upgraded its outlook on Welltower (NYSE:WELL) from Outperform to Strong Buy on Thursday, Nov 9, 2023. This change in outlook is due to a bullish market sentiment reflected by WELL's put/call ratio of 0.49. The average one-year price target for Welltower is set at $90.91, indicating a potential increase of 5.25% from its closing price of $86.37.
Welltower, a Real Estate Investment Trust (REIT) and an S&P 500 company based in Toledo, Ohio, has seen growing institutional interest with an increase in total shares by 5.19%, and an average portfolio weight of 0.62%. A total of 1632 funds have reported positions in Welltower, reflecting the growing interest among institutional investors.
Major investment firms and funds such as Cohen & Steers (NYSE:CNS), Wellington Management, Capital International Investors, and Vanguard funds VGSIX and VTSMX have all adjusted their holdings in Welltower, marking significant changes in ownership.
Welltower specializes in investing in real estate infrastructure for senior housing operators and health systems. It is leading the transformation of health care infrastructure across high-growth markets in the US, Canada, and the UK. Their property portfolio includes seniors housing, post-acute communities, and outpatient medical properties.
The company's projected annual revenue is expected to reach $6.446 billion, up by 1.96%, with a non-GAAP EPS of $0.90. These projections indicate a positive financial outlook for the company in the upcoming year.
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