Patton Fund Management Inc. significantly reduced its stake in Ventas, Inc. (NYSE: VTR) by an astonishing 91% during the third quarter of 2023. According to a report from HoldingsChannel, the institutional investor now holds just 3,742 shares after offloading 37,962 shares, bringing the total value of its holdings to approximately $262,000.
A number of other institutional investors have also made recent moves regarding Ventas shares. For instance, Ameritas Advisory Services LLC acquired a new position in the second quarter valued at $33,000. Golden State Wealth Management LLC increased its stake by 52.7%, now owning 536 shares worth $34,000. Additionally, Elevation Point Wealth Partners LLC, IFP Advisors Inc., and CYBER HORNET ETFs LLC also made new investments in Ventas during this period, with valuations ranging from $35,000 to $67,000. Currently, approximately 94.18% of Ventas stock is held by hedge funds and other institutional investors.
Analyst Ratings and Stock Performance
Recent evaluations from equity research analysts have presented a mixed outlook for Ventas. Evercore ISI raised their target price from $77.00 to $80.00 while maintaining an “outperform” rating as of September 15, 2023. Conversely, Weiss Ratings downgraded the stock from a “buy (b-)” to a “hold (c+)” on December 15, 2023. Jefferies Financial Group reaffirmed a “buy” rating, setting a price target of $93.00, while KeyCorp and Cantor Fitzgerald similarly raised their price objectives to $85.00.
Currently, the consensus rating for Ventas is classified as a “Moderate Buy,” with an average target price of $79.31. On the trading floor, shares of Ventas opened at $79.13 on Tuesday. The company boasts a market capitalization of $37.17 billion, a price-to-earnings (PE) ratio of 152.18, and a price-to-earnings-growth (PEG) ratio of 1.99. The stock has experienced significant fluctuations, with a 12-month low of $56.68 and a high of $81.89.
Recent Earnings and Dividends
On October 29, 2023, Ventas reported its earnings results, revealing a profit of $0.88 per share for the quarter, surpassing the consensus estimate of $0.87 by $0.01. The company generated revenue of $1.49 billion during this period, exceeding analyst expectations of $1.44 billion. This represents a 20.5% increase in revenue compared to the same quarter in the previous year. Ventas has set its fiscal year 2025 guidance at $3.450-3.480 EPS, with analysts forecasting $3.4 EPS for the current year.
The company also announced a quarterly dividend of $0.48 per share, which is scheduled for payment on January 15, 2024. Shareholders of record on December 31, 2023, will be eligible for this dividend, representing an annualized yield of 2.4%. Notably, Ventas’s dividend payout ratio currently stands at an unusually high 369.23%.
In terms of insider trading, CFO Robert F. Probst sold 33,591 shares on November 12, 2023, at an average price of $76.77, totaling approximately $2.58 million. Following this transaction, he retains direct ownership of 168,364 shares valued at about $12.93 million. Similarly, CEO Peter J. Bulgarelli sold 3,924 shares on November 4, 2023, for a total of $294,300.
Over the last ninety days, insiders have sold a total of 688,184 shares, amounting to roughly $50.73 million. Currently, company insiders hold 1.00% of Ventas’s stock.
About Ventas, Inc.
Ventas, Inc. (NYSE: VTR) operates as a real estate investment trust (REIT) specializing in healthcare-related properties. The company manages a diverse portfolio that includes senior housing communities, skilled nursing facilities, medical office buildings, and life science research centers, among other healthcare-related assets. Ventas generates revenue through long-term leases and property management, focusing on the real estate needs of the healthcare sector.
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