Bank of Nova Scotia Cuts Stock Position in Ventas, Inc. $VTR

Key Points

• Bank of Nova Scotia reduced its Ventas stake by 27.2% in the first quarter, selling 36,343 shares and retaining 97,408 shares valued at approximately $8.0 billion.
• Ventas reported quarterly revenue of $1.65 billion, up 22% year over year and above estimates, but earnings per share of $0.11 narrowly missed consensus. The REIT also paid a quarterly dividend of $0.52 per share, representing a 2.1% yield.
• Analysts remain broadly positive, with 15 Buy ratings and four Holds, producing a consensus “Moderate Buy” rating and a $96.50 price target. Shares recently traded near $100.61, close to their 52-week high.

Bank of Nova Scotia lowered its holdings in Ventas, Inc. (NYSE:VTR - Free Report) by 27.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,408 shares of the real estate investment trust's stock after selling 36,343 shares during the quarter. Bank of Nova Scotia's holdings in Ventas were worth $7,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Deutsche Bank AG boosted its stake in Ventas by 0.7% during the fourth quarter. Deutsche Bank AG now owns 3,904,293 shares of the real estate investment trust's stock valued at $302,114,000 after buying an additional 27,688 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Ventas by 2.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,868,962 shares of the real estate investment trust's stock worth $222,000,000 after purchasing an additional 70,459 shares during the last quarter. Norges Bank purchased a new stake in shares of Ventas in the 4th quarter worth $474,571,000. LDR Capital Management LLC purchased a new stake in shares of Ventas in the 4th quarter worth approximately $1,746,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Ventas by 7.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,346,111 shares of the real estate investment trust's stock worth $104,095,000 after purchasing an additional 92,236 shares during the last quarter. Institutional investors own 94.18% of the company's stock.

Ventas Stock Up 0.1%

Shares of NYSE VTR opened at $100.61 on Monday. The company has a market capitalization of $48.92 billion, a price-to-earnings ratio of 182.94, a price-to-earnings-growth ratio of 2.16 and a beta of 0.70. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.25 and a quick ratio of 0.25. The business has a 50-day moving average of $88.17 and a two-hundred day moving average of $84.91. Ventas, Inc. has a 1 year low of $65.15 and a 1 year high of $100.84.

Ventas (NYSE:VTR - Get Free Report) last posted its quarterly earnings data on Monday, April 27th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.01). The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.59 billion. Ventas had a net margin of 4.25% and a return on equity of 2.09%. Ventas's revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 earnings per share. On average, analysts forecast that Ventas, Inc. will post 3.88 earnings per share for the current fiscal year.

Ventas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, June 30th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, June 30th. Ventas's payout ratio is currently 378.18%.

Insider Transactions at Ventas

In other news, Director Michael J. Embler purchased 2,500 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was acquired at an average cost of $78.81 per share, for a total transaction of $197,025.00. Following the completion of the acquisition, the director directly owned 19,202 shares in the company, valued at $1,513,309.62. This represents a 14.97% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Walter C. Rakowich sold 1,152 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $90.20, for a total value of $103,910.40. Following the transaction, the director directly owned 28,349 shares in the company, valued at approximately $2,557,079.80. This represents a 3.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on VTR. Weiss Ratings upgraded Ventas from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, July 21st. Wells Fargo & Company raised their price target on shares of Ventas from $93.00 to $96.00 and gave the company an "overweight" rating in a research report on Monday, June 1st. Citigroup raised their price objective on Ventas from $96.00 to $100.00 and gave the company a "buy" rating in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $100.00 target price on shares of Ventas in a research note on Tuesday, June 16th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $110.00 price target on shares of Ventas in a research note on Tuesday, May 19th. Fifteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Ventas has a consensus rating of "Moderate Buy" and a consensus price target of $96.50.

Ventas Company Profile

Ventas, Inc NYSE: VTR is a real estate investment trust (REIT) that specializes in healthcare-related real estate. The company acquires, owns and manages a diversified portfolio of properties serving the healthcare continuum, including senior housing communities, skilled nursing facilities, medical office buildings, life science and research centers, and other properties leased to healthcare providers and operators. Ventas generates revenue through long-term leases, property management and selective development activities focused on meeting the real estate needs of the healthcare sector.

Ventas' business model combines property ownership with active asset management and capital markets activity.

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