Mizuho Reiterates Top Pick on Welltower, Inc. (WELL)

Mizuho analyst Vikram Malhotra reiterated an Outperform rating and $141.00 price target on Welltower, Inc. (NYSE: WELL).

The analyst comments "Welltower announced the launch of a new private funds management business (initially $2Bn) to manage third-party capital. The company also announced the acquisition of NorthStar Healthcare Income in an all-cash transaction valued at $900 million - ~$184k per unit. This will be allocated to the new fund. We view this move as a key positive for several reasons including a) creating growing AUM with associated asset management fees and potential promotes on monetization, b) increasing the TAM of US senior housing assets in a manner that does not dilute core growth, c) allowing for market densification with existing operators, d) creating a stickier / larger leadership bench with promotes accruing only to non-executive officers, and e) ultimately further exhibiting value / monetization of WELL's data science platform. Reiterate Outperform and Top Pick."

For an analyst ratings summary and ratings history on Welltower, Inc. click here. For more ratings news on Welltower, Inc. click here.

Shares of Welltower, Inc. closed at $134.93 yesterday.

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