Core Insights - Ventas reported revenue of $1.57 billion for the quarter ended December 2025, marking a 21.7% increase year-over-year and exceeding the Zacks Consensus Estimate of $1.5 billion by 4.68% [1] - The company's EPS for the quarter was $0.89, significantly higher than $0.13 in the same quarter last year, and aligned with the consensus estimate [1] Revenue Breakdown - Interest and other income was reported at $7.88 million, surpassing the average estimate of $2.25 million, but reflecting a year-over-year decline of 5.2% [4] - Rental income from the outpatient medical and research portfolio was $226.76 million, slightly below the estimated $229.22 million, but showed a year-over-year increase of 4.9% [4] - Resident fees and services generated $1.19 billion, exceeding the average estimate of $1.11 billion, with a substantial year-over-year growth of 32.3% [4] Stock Performance - Over the past month, Ventas shares have returned 2.7%, outperforming the Zacks S&P 500 composite, which saw a 0.5% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

分组1 - Ventas reported quarterly funds from operations (FFO) of $0.89 per share, matching the Zacks Consensus Estimate, and showing an increase from $0.81 per share a year ago, with a surprise of +0.38% [1] - The company achieved revenues of $1.57 billion for the quarter ended December 2025, exceeding the Zacks Consensus Estimate by 4.68%, compared to $1.29 billion in the same quarter last year [2] - Ventas has consistently surpassed consensus FFO and revenue estimates over the last four quarters [2] 分组2 - The stock's immediate price movement will depend on management's commentary during the earnings call and future FFO expectations [3] - The current consensus FFO estimate for the upcoming quarter is $0.89 on revenues of $1.51 billion, and for the current fiscal year, it is $3.74 on revenues of $6.16 billion [7] - The Zacks Industry Rank indicates that the REIT and Equity Trust - Other sector is currently in the bottom 28% of over 250 Zacks industries, which may negatively impact stock performance [8]

Financial Performance - Ventas reported a 15% year-over-year growth in Same-Store Cash Net Operating Income (NOI) for its senior housing operating portfolio in 2025[3]. - Attributable Net Income per share for Q4 2025 was $0.15, a 15% increase from $0.13 in Q4 2024[5]. - For the full year 2025, Attributable Net Income per share reached $0.54, up 184% from $0.19 in 2024[5]. - Normalized Funds From Operations (FFO) per share for Q4 2025 was $0.89, reflecting a 10% increase compared to the prior year[5]. - Total revenues for Q4 2025 reached $1,566,017, an increase of 21.7% compared to $1,287,057 in Q4 2024[29]. - Net income attributable to common stockholders for Q4 2025 was $70,202, representing a 23.5% increase from $56,835 in Q4 2024[30]. - Earnings per common share (diluted) for Q4 2025 was $0.15, up 7.1% from $0.14 in Q4 2024[30]. - Funds From Operations (FFO) attributable to common stockholders for Q4 2025 was $436,071, a 20% increase from $363,867 in Q4 2024[31]. - Normalized FFO attributable to common stockholders for Q4 2025 was $427,136, reflecting a 23% increase compared to $347,234 in Q4 2024[31]. - The company reported a net income of $261,518 for the full year 2025, compared to $88,351 for the full year 2024[30]. Investments and Growth Strategy - The company completed $2.5 billion in accretive investments in senior housing during 2025, contributing to its growth strategy[4]. - Ventas expects 2026 Attributable Net Income per share to be in the range of $0.52 to $0.62, with a midpoint of $0.57, indicating a 6% increase from 2025[12]. - The company anticipates 2026 Normalized FFO per share to be between $3.78 and $3.88, with a midpoint of $3.83, representing an 8% growth compared to 2025[13]. - The company anticipates closing approximately $2.5 billion in investments focused on senior housing and expects disposition proceeds of around $300 million[39]. Financial Position and Liquidity - As of December 31, 2025, Ventas had $5.3 billion in liquidity, enhancing its financial flexibility for future growth[10]. - Total assets increased to $27,591,945 thousand as of December 31, 2025, compared to $26,186,906 thousand in 2024, reflecting a growth of approximately 5.4%[27]. - Net real estate property rose to $24,126,933 thousand in 2025 from $22,600,545 thousand in 2024, marking an increase of about 6.7%[27]. - Senior notes payable and other debt decreased to $13,011,016 thousand in 2025 from $13,522,551 thousand in 2024, a reduction of approximately 3.8%[27]. - Total liabilities decreased to $14,630,983 thousand in 2025 from $15,047,081 thousand in 2024, indicating a decline of about 2.8%[27]. - Common stock outstanding increased to 474,926 shares in 2025 from 437,085 shares in 2024, representing an increase of approximately 8.7%[27]. - Total equity increased to $12,585,808 thousand in 2025 from $10,829,596 thousand in 2024, a growth of about 16.2%[27]. - The company reported cash and cash equivalents of $741,067 thousand in 2025, down from $897,850 thousand in 2024, a decrease of approximately 17.5%[27]. Operational Metrics - Same-Store Cash NOI for the fourth quarter of 2025 is reported at $486.3 million, representing a 7.8% increase compared to the previous year[40]. - Same-Store Cash NOI for 2025 was $1,845,375,000, reflecting a 7.6% increase compared to the previous year[42]. - Cash NOI for the fourth quarter of 2025 is reported at $591.988 million, with significant contributions from various segments[40]. - Cash NOI for the year ended December 31, 2025, totaled $2,221,622,000, with a breakdown of $1,190,120,000 from SHOP, $570,154,000 from OM&R, and $461,348,000 from NNN[42]. - The company reported a percentage increase in Same-Store Cash NOI of 15.4% for SHOP, 2.5% for OM&R, and a slight decrease of 0.2% for NNN[42]. Expenses and Costs - Total expenses for Q4 2025 were $1,489,731, an increase from $1,287,565 in Q4 2024[29]. - Depreciation and amortization on real estate assets for Q4 2025 was $351,039, compared to $308,054 in Q4 2024[31]. - Interest expenses for Q4 2025 were $154,468, slightly up from $153,206 in Q4 2024[29]. - Interest expense for the year was $612,246,000, up from $602,835,000 in 2024[46]. - The company experienced a loss on extinguishment of debt, netting $172,000 for 2025[46]. Future Projections - Net income attributable to common stockholders for FY 2026 is projected to be between $260 million and $310 million, translating to a per share amount of $0.52 to $0.62[37]. - Nareit FFO attributable to common stockholders is expected to range from $1.826 billion to $1.876 billion, with a per share amount of $3.63 to $3.73[37]. - Normalized FFO attributable to common stockholders is forecasted to be between $1.902 billion and $1.952 billion, equating to a per share amount of $3.78 to $3.88, reflecting a year-over-year growth of 6% to 9%[37]. - Interest expense is projected to be approximately $636 million at the midpoint, with interest and other income estimated at $8 million[39]. - Depreciation and amortization adjustments for FY 2026 are expected to be $1.566 billion[37]. - The weighted average diluted shares for FY 2026 is projected to be 503 million[39]. Operational Risks - The company has significant exposure to various operational risks and regulatory challenges that could impact future performance[24]. - The company emphasizes the importance of NOI and Cash NOI as measures to assess unlevered property-level operating results[49]. - Ventas reported its Q4 2025 results, focusing on property-level expenditures aimed at maximizing value and increasing NOI[55]. - The company utilizes constant currency methodology to present portfolio performance, adjusting prior period results based on current average monthly exchange rates[56].

Core Insights - Wall Street analysts anticipate Ventas (VTR) will report quarterly earnings of $0.89 per share, reflecting a year-over-year increase of 9.9% [1] - Expected revenues for Ventas are projected at $1.49 billion, which represents a 16.1% increase from the same quarter last year [1] - There has been a slight downward revision of 0.2% in the consensus EPS estimate over the last 30 days, indicating a reassessment by analysts [1] Revenue Estimates - Analysts estimate 'Revenues- Interest and other income' will reach $2.25 million, indicating a significant year-over-year decline of 72.9% [4] - The 'Revenues- Rental income- Outpatient medical & research portfolio' is projected to be $229.22 million, reflecting a 6% increase from the prior-year quarter [4] - 'Revenues- Resident fees and services' are expected to total $1.11 billion, showing a year-over-year increase of 23.4% [5] Depreciation and Returns - Analysts project 'Depreciation and amortization' to be approximately $361.19 million [5] - Over the past month, shares of Ventas have returned +1.3%, compared to a +1.8% change in the Zacks S&P 500 composite [5] - With a Zacks Rank of 4 (Sell), VTR is expected to underperform the overall market in the near future [5]

Core Insights - Ventas (VTR) shares have increased by 10.9% over the past three months, outperforming the industry which saw a decline of 1.3% [1][9] Company Overview - Ventas has a diverse portfolio of healthcare real estate assets in key markets, including the U.S. and the U.K., which positions the company to benefit from favorable industry fundamentals [2] - The senior housing operating portfolio (SHOP) is expected to gain from the aging population and increased healthcare expenditures by senior citizens [2][6] - The outpatient medical (OM) portfolio is anticipated to benefit from positive trends in outpatient visits [2][8] Market Trends - The U.S. population aged 80 years and above is projected to grow by 28% over the next five years, driving demand for senior housing [6] - The 65+ aged population is expected to grow approximately 30% from 2020 to 2030, indicating a rising demand for outpatient medical services [8] Financial Performance - Ventas reported a 15.9% year-over-year growth in same-store cash NOI for the SHOP portfolio in the third quarter of 2025 [7] - The company has maintained a liquidity position of approximately $4.1 billion as of September 30, 2025, and improved its net debt to further adjusted EBITDA ratio to 5.3X from 6.3X year-over-year [11] Strategic Initiatives - Ventas follows a disciplined capital-recycling strategy, selling non-core assets and acquiring premium assets to enhance its financial position [10] - In the third quarter of 2025, Ventas sold properties for a total of $77.9 million and acquired 20 senior housing communities for $1.1 billion [10] Analyst Sentiment - Analysts have a positive outlook on Ventas, with the Zacks Consensus Estimate for 2025 FFO per share revised slightly upward to $3.48 [3]

分组1 - The total taxable distribution for 2025 amounts to $1.890 billion, with ordinary dividends contributing $1.807741 billion [1][2] - The qualified dividend portion included in the ordinary dividend is $0.114069 billion, while the 199A dividend is $1.693672 billion [1][2] - The capital gain distribution for the year is reported as $0.082259 billion, with no non-dividend distributions recorded [1][2] 分组2 - The company made multiple distributions throughout 2025, with specific amounts detailed for January, April, July, and October [1][2] - Each distribution includes a breakdown of ordinary dividends, qualified dividends, and capital gain distributions, indicating a consistent payout strategy [1][2] - The ordinary dividend per share for the distributions in January, April, July, and October is consistently set at $0.480 billion, reflecting stable dividend policies [2]

Company Overview - Ventas, Inc. (NYSE: VTR) is an S&P 500 company focused on creating exceptional environments for a growing aging population [4] - The company operates approximately 1,400 properties in North America and the United Kingdom, playing a vital role in the longevity economy [4] - Ventas's portfolio includes over 850 senior housing communities, outpatient medical buildings, research centers, and healthcare facilities [4] Growth Strategy - The company's growth is driven by its senior housing communities, which provide essential services to residents [4] - Ventas aims to achieve superior performance by leveraging operational expertise, data-driven insights from its Ventas OI™ platform, and strong financial relationships [4] - The commitment of Ventas's seasoned team is to help people live longer, healthier, and happier lives [4] Upcoming Earnings Release - Ventas will release its fourth quarter 2025 earnings after the close of trading on February 5, 2026 [1] - A conference call to discuss the earnings will take place on February 6, 2026, at 10:00 a.m. Eastern Time [1]

Core Insights - Ventas, Inc. (VTR) is a healthcare REIT with a market cap of $36.1 billion, focusing on senior housing, medical office buildings, life science facilities, and healthcare-related properties [1] - The company is expected to announce its fiscal Q4 earnings for 2025 soon, with analysts predicting a profit of $0.89 per share, a 9.9% increase from the previous year [2] - Ventas has consistently exceeded Wall Street's bottom-line estimates for the last four quarters, with a forecasted FFO of $3.48 per share for the current fiscal year, representing a 9.1% increase from fiscal 2024 [3] Financial Performance - In Q3, Ventas reported total revenue of $1.5 billion, a 20.4% year-over-year increase, surpassing consensus estimates by 4.2% [5] - The company's normalized FFO for Q3 was $0.88, which improved 10% from the same quarter last year, exceeding analyst expectations [5] - The strong performance was attributed to the senior housing operating portfolio (SHOP), which saw double-digit organic growth year-over-year [5] Market Performance - Over the past 52 weeks, Ventas shares have increased by 32.6%, outperforming the S&P 500 Index's 19.3% return and the State Street Real Estate Select Sector SPDR ETF's 2.3% increase [4] - Wall Street analysts have a highly optimistic outlook for VTR, with a "Strong Buy" rating from 16 out of 21 analysts, and a mean price target of $86.40, indicating a 12.3% potential upside [6]

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