Land & Buildings Comments on Ventas ISS Report | Business

Deborah K. Vick


STAMFORD, Conn.–(Enterprise WIRE)–Apr 18, 2022–

Land & Properties Expense Management, LLC (with each other with its affiliates, “Land & Buildings”), a substantial shareholder of Ventas, Inc. (NYSE: VTR) (“Ventas”, “VTR”, or the “Company”), right now issued the pursuing assertion in reaction to a report issued by Institutional Shareholder Expert services Inc. (“ISS”) concerning the election of administrators to the Company’s Board of Administrators (the “Board”) at the future 2022 Yearly Assembly of Shareholders (the “Annual Meeting”):

“We believe that that ISS achieved the mistaken summary by failing to advise shareholders vote for transform in the Ventas boardroom. The Organization has prolonged endured from operational underperformance, cash allocation failures, inadequate communication initiatives and lousy company governance methods that have led Ventas to trade a major low cost to peers – and we think a true shareholder agent is straight away necessary on the Board to instill accountability and travel improved functionality.

In spite of not agreeing with ISS’s recommendation, we believe it is noteworthy that ISS agreed with numerous of our main arguments and fears concerning Ventas’ overall performance below the incumbent Board, highlighting that shareholders would have the ‘potential solution’ of ‘supporting additional substantive changes’ subsequent 12 months ought to the various gap to Welltower Inc. (NYSE: Well) not be closed. 1 We keep on to believe Jonathan Litt would convey the necessary serious estate field abilities and shareholder-aligned views to the boardroom and urge shareholders to vote on the BLUE proxy card FOR the election of Jonathan Litt to the Ventas Board.”

In its report, ISS writes:

  • “There is a defensible argument that, with out a shareholder representative in the boardroom that is impartial of administration, the selections that the company would make as the restoration in senior housing can take hold could guide to undisciplined financial commitment, poor trader interaction, or skipped possibilities for operational optimization.”

ISS also points out the Company’s sustained underperformance, specifically in comparison to its closest competitor, Welltower Inc.:

  • “[T]he firm’s TSR lags that of Well, its self-recognized closest competitor, in all analyzed time durations. There appears to be correlation amongst the TSR and the company’s relative valuation, with VTR persistently valued at a P/AFFO various that is decrease than Properly, and a hole concerning the two companies’ multiples that has grown broader above time.”
  • “[T]he firm’s attempts to make worth by reworking the portfolio or enhancing trader communications have not created constructive TSR.”

ISS notes the Board’s marriage with Michael Embler may perhaps induce shareholders to issue his independence while recognizing his appointment was likely a reactionary transfer in reaction to Land & Buildings’ engagement:

  • “[Embler’s] appointment to the VTR board appears to be unnecessarily antagonistic, relatively than responsive to the problems raised by the dissident.”
  • “The most modern appointment to the board… has record that could guide to thoughts about independence, inquiries about the board’s motives, and could eventually jeopardize the credibility of the board’s technique to refreshment.”

Land & Buildings urges shareholders to vote FOR the election of its highly competent nominee Jonathan Litt on the BLUE proxy card today.

Shareholders can come across additional information at

If you have any concerns, need guidance in voting your BLUE proxy card, or have to have additional copies of Land and Buildings’ proxy products, you should make contact with Saratoga at the cellphone figures stated down below.

520 8 th Avenue, 14 th Floor

New York, NY 10018

(212) 257-1311

Stockholders phone toll free at (888) 368-0379

Email: [email protected]


1 Authorization to estimate from the ISS report was neither sought nor acquired. Emphases additional.

View supply edition on

Call: Media Make contact with

Longacre Sq. Partners

Dan Zacchei

[email protected]

Investor Contact

Saratoga Proxy Consulting

John Ferguson

(212) 257-1311

[email protected]

Key phrase: UNITED STATES NORTH The united states CONNECTICUT

Business Keyword: Qualified Services FINANCE

Source: Land & Properties Financial commitment Administration, LLC

Copyright Enterprise Wire 2022.

PUB: 04/18/2022 02:08 PM/DISC: 04/18/2022 02:08 PM

Copyright Business enterprise Wire 2022.


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