Strong Senior Housing Performance
Ventas' senior housing operating portfolio showed significant growth, with a ninth consecutive quarter of double-digit NOI growth at over 15% and an overall operating margin of 26.3%, up 150 basis points year-over-year.
Increased Investment in Senior Housing
Ventas has ramped up its investments in senior housing to $1.7 billion this year, acquiring assets with year 1 yields of 7-8% and aiming for low to mid-teens unlevered IRR.
FFO and NOI Growth
The company reported $0.80 of normalized FFO per share, a 7% year-over-year increase, and total same-store cash NOI grew nearly 8%.
Improved 2024 Outlook
Ventas raised its 2024 normalized FFO per share guidance and same-store cash NOI expectations, reflecting strong performance and strategic execution.
Occupancy Growth
SHOP portfolio occupancy grew by 350 basis points year-over-year, and Canadian portfolio occupancy reached an all-time high of 97%.
Sustainability Leadership
Ventas released its corporate sustainability report, emphasizing its commitment to sustainable growth and recognizing nearly 19% annual TSR since 2000.