Compared to Estimates, Ventas (VTR) Q2 Earnings: A Look at Key Metrics

Core Insights - Ventas reported revenue of $1.2 billion for the quarter ended June 2024, reflecting an 8.6% increase year-over-year and surpassing the Zacks Consensus Estimate of $1.19 billion by 0.78% [1] - The company's EPS was $0.80, significantly higher than $0.26 in the same quarter last year, and exceeded the consensus estimate of $0.79 by 1.27% [1] Revenue Breakdown - Rental income from Triple-net leased properties was $153.93 million, slightly above the average estimate of $153.42 million, showing a year-over-year decrease of 0.3% [3] - Rental income from the outpatient medical & research portfolio was $218.85 million, slightly below the average estimate of $219.42 million [4] - Total rental income was reported at $372.79 million, close to the average estimate of $372.84 million, with a year-over-year increase of 0.7% [5] - Resident fees and services generated $817.60 million, exceeding the average estimate of $815.27 million, marking a significant year-over-year increase of 12.8% [6] - Third-party capital management revenues were $4.33 million, below the average estimate of $4.48 million [7] - Income from loans and investments was $1.44 million, lower than the average estimate of $1.67 million, representing a substantial year-over-year decline of 78.1% [8] - Interest and other income reached $4.83 million, below the average estimate of $5.43 million, but showed a remarkable year-over-year increase of 367.5% [9] Net Operating Income (NOI) - NOI from Triple-Net Leased Properties was $150.43 million, slightly below the average estimate of $150.53 million [9] - NOI from SHOP was reported at $214.24 million, exceeding the average estimate of $210.47 million [10] - NOI from the Office Outpatient medical & research portfolio was $146.27 million, above the average estimate of $144.53 million [11] Stock Performance - Ventas shares have returned 5.1% over the past month, outperforming the Zacks S&P 500 composite's return of 1.1% [11] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [11]