Westpac Banking Corp Boosts Holdings in Ventas, Inc. (NYSE:VTR)
Westpac Banking Corp boosted its position in shares of Ventas, Inc. (NYSE:VTR) by 160.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 358,342 shares of the real estate investment trust’s stock after buying an additional 220,875 shares during the quarter. Westpac Banking Corp’s holdings in Ventas were worth $24,493,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Hoylecohen LLC lifted its position in shares of Ventas by 0.7% during the first quarter. Hoylecohen LLC now owns 80,145 shares of the real estate investment trust’s stock worth $5,114,000 after purchasing an additional 560 shares during the last quarter. Proffitt & Goodson Inc. bought a new stake in shares of Ventas during the first quarter worth $88,000. Intrust Bank NA bought a new stake in shares of Ventas during the first quarter worth $200,000. Parallel Advisors LLC lifted its position in shares of Ventas by 18.5% during the first quarter. Parallel Advisors LLC now owns 1,854 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 290 shares during the last quarter. Finally, Bremer Bank National Association bought a new stake in shares of Ventas during the first quarter worth $180,000. 84.18% of the stock is owned by institutional investors.
In other Ventas news, Chairman Debra A. Cafaro sold 68,084 shares of Ventas stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $66.54, for a total value of $4,530,309.36. Following the transaction, the chairman now owns 805,835 shares in the company, valued at $53,620,260.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP T Richard Riney sold 29,702 shares of Ventas stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $70.45, for a total value of $2,092,505.90. Following the completion of the transaction, the executive vice president now owns 163,488 shares in the company, valued at approximately $11,517,729.60. The disclosure for this sale can be found here. Insiders sold 165,866 shares of company stock valued at $11,323,058 over the last 90 days. 1.40% of the stock is currently owned by corporate insiders.
Ventas (NYSE:VTR) last released its quarterly earnings data on Friday, July 26th. The real estate investment trust reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.38). The firm had revenue of $950.70 million during the quarter, compared to the consensus estimate of $931.16 million. Ventas had a net margin of 13.34% and a return on equity of 4.78%. The business’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 earnings per share. On average, research analysts predict that Ventas, Inc. will post 3.83 earnings per share for the current fiscal year.
Several analysts have recently weighed in on the company. Stifel Nicolaus upgraded Ventas from a “hold” rating to a “buy” rating and lifted their target price for the stock from $65.00 to $74.00 in a research report on Wednesday, June 19th. Raymond James upgraded Ventas from an “underperform” rating to a “market perform” rating in a research report on Tuesday, April 30th. ValuEngine downgraded Ventas from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Bank of America reiterated a “neutral” rating and set a $72.50 target price (up from $67.00) on shares of Ventas in a research report on Friday, June 21st. Finally, BMO Capital Markets reiterated a “hold” rating and set a $73.00 target price on shares of Ventas in a research report on Monday, July 29th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. Ventas presently has an average rating of “Hold” and an average price target of $66.59.
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, university-based research and innovation centers, inpatient rehabilitation and long-term acute care facilities, and health systems.
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