Healthcare REIT Ventas raises full-year FFO per share forecast

Ventas

01/08/2024 23:22

Aug 1 (Reuters) - Ventas  VTR.N  raised the lower end of
its forecast for annual funds from operations on Thursday,
banking on continued strength for its assisted living and senior
housing properties to drive performance. 
    The demand for senior housing in the United States has been
increasing driven by a growing population of people over 65 and
rising healthcare expenditure for senior citizens.
        Same store net operating income in its senior housing
operating portfolio rose 15.2% in the quarter compared to the
year-ago quarter.
  
    The company now sees 2024 normalized FFO, a key performance
measure for real estate investment trusts (REITs) between $3.12
and $3.18 per share, compared to its previous view of $3.10 to
$3.18 per share. 
    The midpoint of its forecast range was below analysts'
average estimates of $3.17 per share, according to LSEG data.
    The Chicago-based healthcare-centric REIT owns and leases
senior housing and healthcare properties across the United
States and the United Kingdom, including outpatient medical
buildings and research centers.
    Its normalized second-quarter FFO was 80 cents per share,
marginally above the analysts average estimate of 79 cents per
share.
    Peer Welltower  WELL.N  raised its annual funds from
operations (FFO) forecast last month betting on steady demand
for assisted living and senior housing properties.

 (Reporting by Vaibhav Sadhamta; Editing by Tasim Zahid)
 ((Vaibhav.Sadhamta@thomsonreuters.com;))