Ventas beats quarterly FFO per share outlook on strong demand

Ventas

02/11/2023 22:28

Nov 2 (Reuters) - Ventas Inc  VTR.N  beat third-quarter
estimates for funds from operations (FFO) on Thursday, led by
strong demand for its assisted living and senior housing
properties.
    The real estate investment trust (REIT) owns and leases
seniors housing and healthcare properties across the United
States and the United Kingdom.
    Ventas reported normalized FFO per share of 75 cents, above
Wall Street estimates of 74 cents, according to LSEG data. 
    The company also tightened its outlook range for normalized
FFO per share for the full year, raising the midpoint of
guidance range to $2.98 from $2.97, in line with analysts'
estimates.
    Total company same-store net operating income rose 7.9% in
the quarter.
    The Chicago, Illinois-based company posted net loss of $69.6
million compared with a profit of $3.1 million a year earlier.
    Total expenses in the quarter rose to $1.23 billion from
$1.04 billion a year earlier.

 (Reporting by Vaibhav Sadhamta in Bengaluru; Editing by Krishna
Chandra Eluri)
 ((Vaibhav.Sadhamta@thomsonreuters.com;))