Ventas Inc. Earnings Cheat Sheet: Double Digit FFO Growth

S&P 500 (NYSE:SPY) component Ventas Inc. (NYSE:VTR) reported its results for the first quarter. Ventas is a real estate investment trust, with a portfolio of seniors housing and healthcare properties.

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Ventas Earnings Cheat Sheet for the First Quarter

Results: The company’s funds from operations (FFO) rose 21.3% from the year-earlier quarter to 91 cents. FFO, a measure of performance of a real estate investment trust (REIT), removes the profit-reducing effect that depreciation has on earnings. It came in ahead of the consensus estimate of 89 cents per share. FFO, a measure of performance of a real estate investment trust (REIT), removes the profit-reducing effect that depreciation has on earnings.

Quoting Management: “Ventas continues to reap the benefits from executing on our strategy of growing and diversifying our portfolio, increasing private pay and strengthening our balance sheet as we delivered outstanding first quarter results,” Ventas Chairman and Chief Executive Officer Debra A. Cafaro said. “In the last year we have grown the private pay portion of our business to 80 percent of revenues, more than doubled the number of properties in our portfolio and expanded our tenant operator relationships by four times, while improving our ratings and our cost of capital. We have proven that a great company can produce superior consistent returns while prudently managing its balance sheet,” she added. “We will continue to take advantage of the powerful platform we have created.”

Looking Forward: The average estimate for the second quarter remains unchanged at 92 cents a share. For the fiscal year, the average estimate has moved down from $3.73 a share to $3.71 over the last ninety days.

Competitors to Watch: Nationwide Health Properties Inc., Universal Health Realty Income Trust, Senior Housing Properties Trust, National Health Investors Inc, Health Care REIT, Inc., Medical Properties Trust, Inc., Omega Healthcare Investors, Inc., HCP, Inc., LTC Properties, Inc., and Healthcare Realty Trust Inc.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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