Ventas edges down after stock offering launch
** Shares of Ventas VTR.N down 0.2% to $64.30 post-market after senior housing real estate investment trust (REIT) announces stock offering
** Chicago-based firm commences 10.6 mln share offering as part of forward sale
** The REIT enters into 1-year forward sale agreement with underwriter Wells Fargo
** Upon settlement of agreement, co to use net proceeds for working capital and other purposes, including funding acquisitions and investments or debt repayment
** Ventas has ~419.4 mln shares outstanding for ~$27 bln market cap, per LSEG
** Shares fell 3 cents to close at $64.45 on Weds. Stock up 29% YTD and up ~45% over the past 12 months
** In comparison, S&P 500 Real Estate index .SPLRCR up ~8% in 2024 and up ~25% over the past year
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
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