Ventas lifts lower-end of annual FFO forecast on strong quarterly demand

Ventas

01/05/2024 23:19

May 1 (Reuters) - Healthcare-centric real estate
investment trust (REIT) Ventas  VTR.N  raised its annual funds
from operations (FFO) guidance on Wednesday, banking on
continued strength for its assisted living and senior housing
properties to drive performance.
    With the population in the U.S. aging at a rapid pace, the
demand for housing and healthcare assets for seniors has been
steadily climbing.
    Ventas owns and leases senior housing and healthcare
properties across the United States and the United Kingdom,
including outpatient medical buildings and research centers. 
    The Chicago-based REIT's normalized first-quarter FFO, a key
performance measure for REITs, were 78 cents per share, above
analysts' average estimate of 74 cents per share, as per LSEG
data. 
    The REIT now sees 2024 normalized FFO in the range of $3.10
to $3.18 per share, raised at mid-point from its previous view
of $3.07 to $3.18 per share. The analysts average estimates for
annual FFO was $3.15 per share, according to LSEG data.
        Same store net operating income from its senior housing
rose 15% in the quarter ended March 31.

 (Reporting by Pratik Jain and Unnamalai L in Bengaluru; Editing
by Tasim Zahid)
 ((Pratik.Jain@thomsonreuters.com;))