Ventas, Inc. $VTR Position Reduced by Adelante Capital Management LLC

Key Points

• Adelante Capital Management reduced its Ventas position by 11.4% in the first quarter, selling 79,031 shares and retaining 616,206 shares valued at approximately $50.4 million. Institutional investors collectively own 94.18% of Ventas.
• Ventas reported quarterly revenue of $1.65 billion, up 22% year over year and above estimates, but earnings per share of $0.11 fell short of consensus by $0.01. The company declared a $0.52 quarterly dividend, equal to a 2.1% annualized yield.
• Analyst sentiment remains favorable, with a “Moderate Buy” consensus and an average price target of $96.50, while recent targets range from $88 to $104. Ventas shares opened at $98.30 after declining 1.8%.

Adelante Capital Management LLC trimmed its holdings in shares of Ventas, Inc. (NYSE:VTR - Free Report) by 11.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 616,206 shares of the real estate investment trust's stock after selling 79,031 shares during the period. Ventas comprises 3.3% of Adelante Capital Management LLC's investment portfolio, making the stock its 10th largest position. Adelante Capital Management LLC owned 0.13% of Ventas worth $50,394,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of VTR. Deutsche Bank AG grew its holdings in Ventas by 0.7% during the 4th quarter. Deutsche Bank AG now owns 3,904,293 shares of the real estate investment trust's stock valued at $302,114,000 after purchasing an additional 27,688 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Ventas by 2.5% during the 4th 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 buying an additional 70,459 shares during the period. Norges Bank acquired a new position in Ventas in the 4th quarter worth $474,571,000. LDR Capital Management LLC acquired a new position in Ventas in the 4th quarter worth $1,746,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Ventas by 7.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,346,111 shares of the real estate investment trust's stock valued at $104,095,000 after buying an additional 92,236 shares during the last quarter. 94.18% of the stock is currently owned by hedge funds and other institutional investors.

Ventas Stock Down 1.8%

NYSE:VTR opened at $98.30 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.25 and a current ratio of 0.25. The company has a market capitalization of $47.79 billion, a price-to-earnings ratio of 178.73, a price-to-earnings-growth ratio of 2.15 and a beta of 0.70. Ventas, Inc. has a one year low of $65.60 and a one year high of $101.60. The stock has a 50-day simple moving average of $88.61 and a 200 day simple moving average of $85.24.

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

Ventas Dividend Announcement

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

Insiders Place Their Bets

In other Ventas news, Director Michael J. Embler purchased 2,500 shares of Ventas stock in a transaction dated 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. This represents a 14.97% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Walter C. Rakowich sold 1,152 shares of the firm's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $90.20, for a total transaction of $103,910.40. Following the completion of the transaction, the director owned 28,349 shares in the company, valued at approximately $2,557,079.80. The trade was a 3.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.53% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on VTR. Scotiabank lowered their target price on Ventas from $95.00 to $88.00 and set a "sector perform" rating for the company in a research note on Thursday, June 18th. Wells Fargo & Company boosted their price target on Ventas from $93.00 to $96.00 and gave the stock an "overweight" rating in a research note on Monday, June 1st. Citigroup increased their price target on Ventas from $96.00 to $100.00 and gave the company a "buy" rating in a report on Friday, May 1st. Mizuho raised their price objective on Ventas from $98.00 to $104.00 and gave the company an "outperform" rating in a research note on Wednesday, July 22nd. Finally, Barclays began coverage on Ventas in a report on Tuesday, July 7th. They set an "equal weight" rating and a $99.00 price objective on the stock. Fifteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Ventas presently has an average rating of "Moderate Buy" and an average 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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