Here’s What Makes Welltower (WELL) a Smart Long-Term Buy
Baron Funds, an investment management firm, released its “Baron Real Estate Income Fund” third quarter 2023 investor letter, a copy of which can be downloaded here. In the first nine months of 2023, the Fund has increased 1.20%, outperforming the REIT Index, which declined 2.89%. As of September 30, 2023, the Fund has maintained its top 3% ranking among all real estate funds for its 5-year performance period. Spare some time to check the fund’s top 5 holdings to know more about their top bets for 2023.
In its Q3 2023 investor letter, Baron Real Estate Income Fund mentioned Welltower Inc. (NYSE:WELL) and explained its insights for the company. Founded in 1970, Welltower Inc. (NYSE:WELL) is a Toledo, Ohio-based real estate investment trust company with a $43.5 billion market capitalization. Welltower Inc. (NYSE:WELL) delivered a 42.29% return since the beginning of the year, while its 12-month returns are down by 28.02%. The stock closed at $83.92 per share on October 19, 2023.
Here is what Baron Real Estate Income Fund has to say about Welltower Inc. (NYSE:WELL) in its Q3 2023 investor letter:
"Welltower Inc., an owner and operator of senior housing and medical office buildings, was a contributor to performance during the quarter due to strong cash-flow growth in its senior housing portfolio driven by healthy rent growth and occupancy gains, robust demand from new residents, improving labor expenses, and superior capital deployment by management. Welltower owns and operates senior housing and medical office buildings in the U.S. and internationally. We believe the company continues to be well-positioned to benefit from cyclical and secular growth over the coming years and has a credible path to double its senior housing operating cash flow organically over the next four to five years. In addition, we believe the current constrained financing environment will create attractive external growth opportunities for the company to acquire quality assets at attractive prices."
An excited real estate broker discussing with a couple interested in buying a home. Editorial photo for a financial news article. 8k. --ar 16:9
Our calculations show that Welltower Inc. (NYSE:WELL) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Welltower Inc. (NYSE:WELL) was in 17 hedge fund portfolios at the end of the second quarter of 2023, compared to 17 funds in the previous quarter. Welltower Inc. (NYSE:WELL) delivered a 2.33% return in the past 3 months.
We also discussed Welltower Inc. (NYSE:WELL) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q3 2023 page.
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Disclosure: None. This article is originally published at Insider Monkey.
