Baron Funds: “Ventas (VTR) Shares are Attractively Valued”

Baron Funds, an asset management company, released its “Baron Real Estate Income Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. Baron Real Estate Income Fund (the “Fund”) declined 18.43% (Institutional Shares) in the second quarter of 2022, modestly underperforming its primary benchmark, the MSCI US REIT Index (the “REIT Index”), which declined 17.16%. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, Baron Real Estate Income Fund mentioned Ventas, Inc. (NYSE:VTR) and explained its insights for the company. Founded in 1998, Ventas, Inc. (NYSE:VTR) is a Chicago, Illinois-based real estate investment trust company with a $19.1 billion market capitalization. Ventas, Inc. (NYSE:VTR) delivered a -6.10% return since the beginning of the year, while its 12-month returns are down by -15.94%. The stock closed at $48.00 per share on September 16, 2022.

Here is what Baron Real Estate Income Fund has to say about Ventas, Inc. (NYSE:VTR) in its Q2 2022 investor letter:

“Ventas, Inc. (NYSE:VTR)is a leading health care REIT that owns a $35 billion portfolio of senior housing, medical office, hospitals, and life science properties. We believe the shares are attractively valued at a 10% discount to net asset value, a 5.5% capitalization rate, and a significant discount to a key public competitor.”

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Our calculations show that Ventas, Inc. (NYSE:VTR) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Ventas, Inc. (NYSE:VTR) was in 19 hedge fund portfolios at the end of the second quarter of 2022, compared to 20 funds in the previous quarter. Ventas, Inc. (NYSE:VTR) delivered a -2.00% return in the past 3 months.

In January 2021, we also shared another hedge fund’s views on Ventas, Inc. (NYSE:VTR) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

Disclosure: None. This article is originally published at Insider Monkey.