Glen Harbor Capital Management LLC Acquires 47,498 Shares of Ventas, Inc. (VTR)
Glen Harbor Capital Management LLC raised its holdings in Ventas, Inc. (NYSE:VTR) by 95.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 97,284 shares of the real estate investment trust’s stock after purchasing an additional 47,498 shares during the quarter. Glen Harbor Capital Management LLC’s holdings in Ventas were worth $5,540,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Wells Fargo & Company MN boosted its stake in shares of Ventas by 8.4% during the 1st quarter. Wells Fargo & Company MN now owns 1,789,980 shares of the real estate investment trust’s stock worth $88,657,000 after acquiring an additional 138,543 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Ventas by 42.0% during the 1st quarter. Oppenheimer & Co. Inc. now owns 24,841 shares of the real estate investment trust’s stock worth $1,230,000 after acquiring an additional 7,353 shares in the last quarter. Comerica Bank boosted its stake in shares of Ventas by 3.5% during the 1st quarter. Comerica Bank now owns 112,629 shares of the real estate investment trust’s stock worth $5,384,000 after acquiring an additional 3,803 shares in the last quarter. Atria Investments LLC boosted its stake in shares of Ventas by 14.4% during the 1st quarter. Atria Investments LLC now owns 7,854 shares of the real estate investment trust’s stock worth $389,000 after acquiring an additional 991 shares in the last quarter. Finally, Mackay Shields LLC purchased a new stake in shares of Ventas during the 1st quarter worth about $2,969,000. 84.48% of the stock is currently owned by institutional investors.
Several research firms have recently issued reports on VTR. Bank of America increased their target price on shares of Ventas from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 10th. Evercore ISI lowered shares of Ventas from an “in-line” rating to an “underperform” rating in a research note on Monday, May 21st. Cantor Fitzgerald reissued a “hold” rating and set a $56.00 target price on shares of Ventas in a research note on Friday, July 27th. ValuEngine raised shares of Ventas from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 28th. Finally, SunTrust Banks reissued a “hold” rating and set a $58.00 target price on shares of Ventas in a research note on Tuesday, July 31st. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $57.07.
Ventas (NYSE:VTR) last issued its quarterly earnings results on Friday, July 27th. The real estate investment trust reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.06. The firm had revenue of $942.30 million for the quarter, compared to analyst estimates of $919.95 million. Ventas had a net margin of 34.00% and a return on equity of 5.02%. Ventas’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company posted $0.42 EPS. sell-side analysts forecast that Ventas, Inc. will post 4.05 EPS for the current year.
In other Ventas news, EVP T Richard Riney sold 13,708 shares of the stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $60.00, for a total value of $822,480.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Debra A. Cafaro sold 30,942 shares of the stock in a transaction dated Tuesday, July 3rd. The shares were sold at an average price of $58.00, for a total transaction of $1,794,636.00. Following the completion of the sale, the chairman now owns 775,109 shares of the company’s stock, valued at approximately $44,956,322. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
Ventas, Inc, an S&P 500 company, is a leading real estate investment trust. Its diverse portfolio of approximately 1,200 assets in the United States, Canada and the United Kingdom consists of seniors housing communities, medical office buildings, life science and innovation centers, inpatient rehabilitation and long-term acute care facilities, health systems and skilled nursing facilities.
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