First Manhattan Co. Reduces Stake in Ventas, Inc. (VTR)
First Manhattan Co. cut its position in Ventas, Inc. (NYSE:VTR) by 76.4% during the second quarter, Holdings Channel reports. The firm owned 2,387 shares of the real estate investment trust’s stock after selling 7,719 shares during the period. First Manhattan Co.’s holdings in Ventas were worth $165,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the company. Atria Investments LLC increased its stake in Ventas by 6.3% in the first quarter. Atria Investments LLC now owns 3,466 shares of the real estate investment trust’s stock worth $225,000 after buying an additional 205 shares during the period. BlackRock Inc. increased its stake in Ventas by 2,360.9% in the first quarter. BlackRock Inc. now owns 36,533,611 shares of the real estate investment trust’s stock worth $2,376,145,000 after buying an additional 35,049,052 shares during the period. Advisors Asset Management Inc. increased its stake in Ventas by 8.6% in the first quarter. Advisors Asset Management Inc. now owns 95,292 shares of the real estate investment trust’s stock worth $6,198,000 after buying an additional 7,521 shares during the period. Bank of America Corp DE increased its stake in Ventas by 1.0% in the first quarter. Bank of America Corp DE now owns 18,226,900 shares of the real estate investment trust’s stock worth $1,185,477,000 after buying an additional 184,874 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in Ventas by 103.9% in the first quarter. Canada Pension Plan Investment Board now owns 679,438 shares of the real estate investment trust’s stock worth $44,191,000 after buying an additional 346,250 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.
Ventas, Inc. (VTR) opened at 64.95 on Friday. The company has a market capitalization of $23.13 billion, a P/E ratio of 32.90 and a beta of 0.07. Ventas, Inc. has a one year low of $56.20 and a one year high of $74.67. The company’s 50-day moving average is $67.88 and its 200 day moving average is $65.25.
Ventas (NYSE:VTR) last issued its earnings results on Friday, July 28th. The real estate investment trust reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.61. Ventas had a net margin of 20.08% and a return on equity of 6.31%. The company had revenue of $895.49 million for the quarter, compared to the consensus estimate of $890.01 million. During the same period in the previous year, the firm earned $0.42 earnings per share. Ventas’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, equities analysts anticipate that Ventas, Inc. will post $1.84 earnings per share for the current year.
VTR has been the topic of a number of research reports. BidaskClub upgraded shares of Ventas from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Mizuho restated a “neutral” rating on shares of Ventas in a report on Wednesday, June 28th. Jefferies Group LLC boosted their target price on shares of Ventas from $61.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, May 1st. Finally, Mitsubishi UFJ Financial Group started coverage on shares of Ventas in a report on Wednesday, June 21st. They issued a “hold” rating and a $67.00 target price on the stock. Five analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $65.13.
In other Ventas news, Chairman Debra A. Cafaro sold 100,000 shares of Ventas stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $69.12, for a total transaction of $6,912,000.00. Following the transaction, the chairman now directly owns 819,835 shares of the company’s stock, valued at $56,666,995.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by insiders.
Ventas, Inc is a real estate investment trust (REIT) with its properties located throughout the United States, Canada and the United Kingdom. The Company operates through three segments: triple-net leased properties, senior living operations and office operations. Under its triple-net leased properties segment, the Company invests in and owns seniors housing and healthcare properties throughout the United States and the United Kingdom and leases those properties to healthcare operating companies under triple-net or absolute-net leases that obligate the tenants to pay all property-related expenses.
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