Senior housing to drive Ventas' FY23 growth - Evercore

Ventas

13/02/2023 15:21

** Evercore ISI raises PT for real estate investment trust
(REIT) Ventas Inc  VTR.N  to $50 from $48; maintains "in-line"
rating 
    ** Says co is poised to have significant organic growth in
FY23 from a "robust" recovery in its senior housing operating
portfolio 
    ** However, brokerage expects VTR's FY23 funds from
operations (FFO) growth to be muted, as FY22 benefited from
grants by the U.S. government
    ** Also expects higher debt costs for VTR in FY23
    ** Fund from operations refer to the cash generated by a
REIT from its regular business activities 
    ** Health and Human Services (HHS) is a U.S. governmental
grant-making agency that sometimes funds community
organizations, which according to the co, benefited some of its
senior housing and healthcare properties
    ** VTR on Thursday forecast FY23 FFO in the range of 20-34
cents/shr vs Refinitiv IBES est of 15 cents/shr
    ** Stock is up ~13% YTD
 (Reporting by Anirban Chakroborti in Bengaluru)
 ((Anirban.Chakroborti@thomsonreuters.com;))