Ventas(US:VTR) ZACKS·2025-10-30 18:31Core Insights - Ventas, Inc. (VTR) reported third-quarter 2025 normalized funds from operations (FFO) per share of 88 cents, exceeding the Zacks Consensus Estimate of 87 cents, marking a 10% increase from the prior-year quarter [1][8] - The company recorded revenues of $1.49 billion, surpassing the Zacks Consensus Estimate of $1.43 billion, and reflecting a year-over-year increase of 20.4% [3][8] - Ventas has increased its guidance for 2025 normalized FFO per share to a range of $3.45-$3.48, compared to the previous range of $3.41-$3.46 [8][9] Financial Performance - Same-store cash net operating income (NOI) for the total property portfolio increased by 7.8% year over year to $475.4 million [5][8] - The senior housing operating portfolio (SHOP) saw a significant increase in same-store cash NOI, climbing 15.9% year over year to $232.4 million, supported by a 4.7% growth in average monthly revenues per occupied room [5][6] - The outpatient medical and research (OM&R) portfolio's same-store cash NOI improved by 3.7% year over year to $138.3 million, while the triple-net leased properties' same-store cash NOI decreased by 2.1% year over year to $104.7 million [6][8] Strategic Outlook - The company aims to capitalize on the growth opportunities in senior housing, driven by an aging population and low supply levels, with expectations of increasing demand and occupancy rates [4][8] - Ventas has increased its investment volume guidance for the senior housing segment to $2.5 billion from the earlier guidance of $2 billion [9] Balance Sheet Position - As of the end of the third quarter, Ventas had cash and cash equivalents of $188.6 million, down from $614.2 million as of June 30, 2025, and total liquidity of $4.1 billion, down from $4.7 billion [7][8]