Land & Buildings Investment Management, LLC (together with its affiliates, “Land & Buildings”), a significant shareholder of Ventas, Inc. (NYSE: VTR) (“Ventas”, “VTR”, or the “Company”), today issued the following statement regarding its campaign at the Company:
“During this campaign we have spoken with many Ventas shareholders who fundamentally agree with what we've identified as the problems at the Company, and with the solutions we are proposing to help Ventas regain its blue-chip REIT status. We continue to believe that a true investor perspective is needed on the Board and that immediate change at Ventas would benefit all its stakeholders.
It has also become clear to us during our conversations with shareholders that given the recommendations of the leading proxy advisory firms, it would be difficult for some investors to support us. As a result, we are withdrawing our director nomination.
Notably, Institutional Shareholder Services (“ISS”) wrote in its analysis that the current Ventas Board has an opportunity to improve relative performance – but if these efforts fail, ISS would be more supportive of change at next year’s annual meeting. While we disagree with this conclusion, we would be pleasantly surprised should it prove to be prescient.
Land & Buildings plans to remain a significant shareholder of Ventas and we are rooting for this Board and management team to take the appropriate actions to improve the Company’s performance. However, we will not hesitate to take future action if we deem it necessary to ensure that Ventas delivers for shareholders.”
View source version on businesswire.com: https://www.businesswire.com/news/home/20220425005360/en/
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Longacre Square Partners
Dan Zacchei
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John Ferguson
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