Ventas Reports Second-Quarter Results; Maintaining FVE
Ventas reported second-quarter results roughly in line with our expectations as management reaffirmed previous 2017 guidance. We are currently maintaining our $65 per share fair value estimate and narrow moat rating. The company continued the positive momentum but much of the growth was on par with our estimates, so we still see the company growing NOI in the low-single-digits across our 10-year explicit forecast. The company reported normalized funds from operations (FFO) of $1.06 per share for...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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