Ventas Reports 3Q Results; Newer Investments Hope to Offset Continued Pressure in Senior Housing
Ventas reported third-quarter results with normalized funds from operations up 5% for the quarter, year over year, to $1.03 per share, excluding effects of the Care Capital Properties spin-off. Overall, same-store cash net operating income was up 2.4% over the year-ago period, driven mainly by contractual growth in the company's triple-net portfolio, increasing 4.2% for the quarter. Ventas closed its previously announced acquisition of the $1.5 billion Wexford life-science portfolio. Additionall...Ventas is a real estate investment trust with a portfolio of seniors housing, research and innovation, and healthcare properties located throughout the United States, Canada and the United Kingdom. The company has three segments: triple-net leased properties, which invests in and owns seniors housing and healthcare properties and leases those properties to healthcare operating companies under triple-net or absolute-net leases; senior living operations, which invests in seniors housing communities and engages independent operators to manage those communities; and office operations, which acquires, owns, develops, leases and manages medical office buildings and research and innovation centers.
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