Seeking Alpha

Ventas +1.8% as analyst is bullish on Colony Capital refinancing deal

|About: Ventas, Inc. (VTR)|By:, SA News Editor

Ventas (NYSE:VTRadvances 1.8% after announcing post-market Thursday an agreement to provide $490M of financing to Colony Capital (NYSE:CLNY) as part of Colony's refinancing of a health-care loan.

The deal could give Ventas an "inside track" to own the investments if Colony decides to exit health care, writes Capital One analyst Daniel Bernstein.

It's also provides an indirect way for Ventas to invest in skilled nursing, with about one-third of Colony's health-care NOI comes from skilled nursing, he writes.

Reiterates overweight recommendation and $69 price target for Ventas.

Sell-side average rating Neutral (2 Buy, 17 Hold, 2 Sell), average price target $63.

Subscribe for full text news in your inbox