- Land & Buildings Investment Management confirmed on Monday that it is nominating its founder and chief investment officer, Jonathan Litt, to Ventas's (VTR +0.4%) board in an effort to improve the REIT's communications with investors.
- "If elected Mr. Litt is committed to collaborating with the board to help fix the issues that have caused the company's performance to decline and to working to return Ventas (NYSE:VTR) to its industry leader status," Land & Buildings said in an open letter to Ventas shareholders.
- The activist investor pointed out that Ventas (VTR) has "meaningfully fallen behind" Welltower (NYSE:WELL), its closest peer, and the broader healthcare REIT and REIT sectors.
- "Despite prior disappointing engagement" with the board, Land & Buildings "remains open to reaching a constructive resolution with Ventas (VTR)," it said.
- SA Quant rating for Ventas (VTR) is Sell, while the average Wall Street rating is Buy.
- On Sunday, the Wall Street Journal reported that Land & Buildings would nominate Litt to Ventas's board.
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