MUFG analyst Karin Ford maintained an Overweight rating on Welltower, and raised her price target on shares to $76 from $72, following Welltower’s 2018 Investor Day. Ford said of the meeting, “We were encouraged by management’s 12.7% 5-year total annualized return forecast. Moreover, average annual organic cash flow growth of 5.6% and a 5.0% dividend yield implies a double-digit return for shareholders without any incremental capital activity. Management seemed bullish on investments, which are supported by a strong balance sheet and data analytic platform, as well as on senior housing prospects, where the impact of supply may decline 23% next year.”
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