With a market cap of $63.3 billion, Welltower Inc. (WELL) is a leading real estate investment trust (REIT) specializing in healthcare infrastructure across seniors housing, post-acute care, and outpatient medical facilities. Based in Toledo, Ohio, the company is expected to unveil its fiscal Q2 earnings results after the market closes on Monday, Jul. 29.
Prior to the event, analysts anticipate WELL to report a Fund from Operations (FFO) of $1.00 per share, up 11.1% from $0.90 per share in the year-ago quarter. The company has surpassed Wall Street's bottom-line estimates in each of the past four quarters. In the most recent quarter, the company reported an FFO of $1.01, marking a notable 18.8% annual jump and exceeding the consensus EPS estimate by a 7.5% margin.
For fiscal 2024, analysts expect WELL to report an FFO of $4.13 per share, up 13.5% from $3.64 per share in fiscal 2023.
In 2024, WELL's shares have risen 18.4% on a YTD basis, outpacing both the S&P 500 Index's ($SPX) 16.3% gain and the S&P 500 Real Estate Sector SPDR's (XLRE) 1.7% return over the same period.
Shares of Welltower soared nearly 7% following its Q4 earnings released on Feb. 13 due to the company's reported FFO of $0.96 per share, which exceeded analysts' expectations, along with its strategic acquisition of 25 properties from Affinity Living Communities for $969 million, enhancing its market presence in high-growth regions of the Pacific Northwest. Moreover, on Apr. 29, the company reported Q1 earnings that exceeded Wall Street expectations, driven by robust performance in its senior housing business and successful strategic acquisitions, leading to a 1.5% rise in its stock on the very same day.
Analysts' consensus rating on Welltower stock is cautiously optimistic, with a "Moderate Buy" rating overall. Out of 18 analysts covering the stock, opinions include 11 "Strong Buys," one "Moderate Buy," and six "Holds." This configuration is slightly more bullish than three months ago, with 10 analysts suggesting a "Strong Buy."
The average analyst price target for WELL is $108.85, suggesting a potential upside of just 2.7% from current levels.
More Stock Market News from Barchart
- Earnings Preview: What to Expect From Merck & Co.'s Report
- Eversource Energy's Quarterly Earnings Preview: What You Need to Know
- Stocks Slide on a Global IT Outage and Chip Stock Weakness
- Buy This Precious Metal ETF to Benefit from Booming Hybrid Vehicle Sales
