Renaissance Technologies LLC Cuts Stock Holdings in Ventas, Inc. $VTR

Key Points

• Renaissance Technologies reduced its Ventas stake by 20.2% in the first quarter, selling 205,190 shares and retaining 810,571 shares valued at approximately $66.3 million.
• Other institutional investors increased their positions, including Arrowstreet Capital, which raised its holdings by 142.8%; hedge funds and institutions collectively own 94.18% of Ventas shares.
• Ventas reported quarterly revenue of $1.65 billion, up 22% year over year, though EPS of $0.11 fell slightly short of expectations. The company paid a $0.52 quarterly dividend, and analysts maintain a “Moderate Buy” consensus rating with an average price target of $96.50.

Renaissance Technologies LLC lowered its holdings in Ventas, Inc. (NYSE:VTR - Free Report) by 20.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 810,571 shares of the real estate investment trust's stock after selling 205,190 shares during the quarter. Renaissance Technologies LLC owned approximately 0.17% of Ventas worth $66,288,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of VTR. Modern Wealth Management LLC increased its holdings in Ventas by 6.2% during the first quarter. Modern Wealth Management LLC now owns 3,204 shares of the real estate investment trust's stock valued at $263,000 after buying an additional 188 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Ventas by 142.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 396,563 shares of the real estate investment trust's stock worth $32,431,000 after buying an additional 233,254 shares during the period. Inceptionr LLC boosted its position in Ventas by 22.3% during the 1st quarter. Inceptionr LLC now owns 23,580 shares of the real estate investment trust's stock valued at $1,928,000 after acquiring an additional 4,301 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Ventas by 3.3% in the 1st quarter. Sei Investments Co. now owns 660,428 shares of the real estate investment trust's stock valued at $54,010,000 after acquiring an additional 21,378 shares during the period. Finally, Lido Advisors LLC raised its position in shares of Ventas by 14.8% in the 1st quarter. Lido Advisors LLC now owns 7,164 shares of the real estate investment trust's stock worth $589,000 after acquiring an additional 925 shares in the last quarter. Hedge funds and other institutional investors own 94.18% of the company's stock.

Ventas Stock Up 0.1%

Shares of VTR stock opened at $100.61 on Monday. Ventas, Inc. has a 1-year low of $65.15 and a 1-year high of $100.84. The stock's fifty day moving average price is $88.17 and its 200 day moving average price is $84.91. 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 company has a market cap 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.

Ventas (NYSE:VTR - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.01). The business had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.59 billion. Ventas had a net margin of 4.25% and a return on equity of 2.09%. The company's quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 earnings per share. On average, research analysts expect 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 $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, June 30th. Ventas's dividend payout ratio (DPR) is presently 378.18%.

Insider Activity at Ventas

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on VTR shares. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $100.00 price objective on shares of Ventas in a research note on Tuesday, June 16th. Jefferies Financial Group boosted their target price on shares of Ventas from $97.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. UBS Group increased their price target on shares of Ventas from $85.00 to $93.00 and gave the company a "neutral" rating in a research report on Monday, May 4th. Evercore restated an "outperform" rating and issued a $95.00 price target on shares of Ventas in a report on Wednesday, April 29th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $110.00 price objective on shares of Ventas in a research report on Tuesday, May 19th. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $96.50.

Ventas 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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