Bank of America Corp DE Acquires 569,772 Shares of Ventas, Inc. (NYSE:VTR)

Posted by Defense World Staff on Jun 4th, 2023

Bank of America Corp DE boosted its holdings in shares of Ventas, Inc. (NYSE:VTR – Get Rating) by 40.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,972,169 shares of the real estate investment trust’s stock after purchasing an additional 569,772 shares during the quarter. Bank of America Corp DE owned about 0.49% of Ventas worth $88,846,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Creative Planning increased its stake in Ventas by 8.1% in the 4th quarter. Creative Planning now owns 24,763 shares of the real estate investment trust’s stock worth $1,116,000 after acquiring an additional 1,852 shares during the last quarter. Amalgamated Bank increased its stake in Ventas by 1.7% in the 4th quarter. Amalgamated Bank now owns 103,423 shares of the real estate investment trust’s stock worth $4,659,000 after acquiring an additional 1,739 shares during the last quarter. Sei Investments Co. increased its stake in Ventas by 61.7% in the 4th quarter. Sei Investments Co. now owns 883,050 shares of the real estate investment trust’s stock worth $39,782,000 after acquiring an additional 336,954 shares during the last quarter. Globeflex Capital L P bought a new stake in Ventas in the 4th quarter worth approximately $117,000. Finally, SYSTM Wealth Solutions LLC bought a new stake in Ventas in the 4th quarter worth approximately $600,000. Institutional investors own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on VTR shares. Wells Fargo & Company started coverage on Ventas in a research note on Wednesday, April 19th. They issued an “overweight” rating and a $50.00 price objective on the stock. Royal Bank of Canada dropped their target price on Ventas from $56.00 to $54.00 and set an “outperform” rating for the company in a report on Wednesday, April 5th. Mizuho dropped their target price on Ventas from $60.00 to $53.00 in a report on Tuesday, May 30th. Credit Suisse Group dropped their target price on Ventas from $51.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, April 12th. Finally, StockNews.com upgraded Ventas from a “sell” rating to a “hold” rating in a report on Thursday, May 11th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $53.55.

Ventas Price Performance

Shares of VTR stock opened at $45.29 on Friday. Ventas, Inc. has a twelve month low of $35.33 and a twelve month high of $56.95. The stock has a market capitalization of $18.12 billion, a price-to-earnings ratio of -251.60, a P/E/G ratio of 1.89 and a beta of 1.19. The stock has a fifty day simple moving average of $44.85 and a two-hundred day simple moving average of $46.49. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 1.23.

Ventas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 13th. Shareholders of record on Monday, July 3rd will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Friday, June 30th. Ventas’s dividend payout ratio is -999.94%.

Insiders Place Their Bets

In other Ventas news, Director Walter C. Rakowich sold 1,242 shares of the company’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $42.57, for a total value of $52,871.94. Following the completion of the sale, the director now directly owns 24,528 shares in the company, valued at approximately $1,044,156.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.30% of the company’s stock.

Ventas Profile

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Ventas, Inc engages in the acquisition and ownership of seniors housing and healthcare properties. It operates through the following segments: Triple-Net Leased Properties, Senior Housing Operating Portfolio (SHOP), and Office Operations. The Triple-Net Leased Properties segment invests in and owns senior housing and healthcare properties.