Core Insights - Ventas (VTR) shares have increased by 24.5% over the past six months, significantly outperforming the industry, which saw a decline of 0.2% [1][8] Group 1: Company Performance - 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 see growth due to an aging population and increased healthcare spending by seniors, with the U.S. population aged 80 and above projected to grow by 28% over the next five years [5][6] - In Q3 2025, Ventas reported a 15.9% year-over-year growth in same-store cash NOI within the SHOP portfolio, indicating strong demand and healthy occupancy levels [6][8] Group 2: Financial Position - As of September 30, 2025, Ventas had approximately $4.1 billion in liquidity and improved its net debt to further adjusted EBITDA ratio to 5.3X from 6.3X year-over-year, enhancing its financial strength [10] - The company follows a disciplined capital-recycling strategy, selling non-core assets and reinvesting in premium acquisitions, which supports its financial position [9] - In Q3 2025, Ventas sold properties in its OM&R segment for $9.8 million and five senior housing communities for $68.1 million, while acquiring 20 senior housing communities for $1.1 billion [9] Group 3: Market Trends - The outpatient medical (OM) portfolio is well-positioned to benefit from increasing outpatient visit trends, with the 65+ aged population expected to grow by approximately 30% from 2020 to 2030 [7] - Analysts have a positive outlook on Ventas, with the Zacks Consensus Estimate for its 2025 FFO per share revised to $3.48, reflecting a marginal upward adjustment [3]

Core Insights - Welltower's shares have increased by 24.1% over the past six months, significantly outperforming the industry's growth of 5.7% [1][9] Company Overview - Welltower has a diversified portfolio of healthcare real estate assets across the U.S., Canada, and the U.K. The aging population and rising healthcare expenditures among senior citizens position the company's senior housing operating (SHO) segment for growth [2][5] - The outpatient medical (OM) portfolio is expected to benefit from favorable trends in outpatient visits [2] Financial Performance - Analysts have a positive outlook on Welltower, currently holding a Zacks Rank 3 (Hold). The Zacks Consensus Estimate for its 2025 funds from operations (FFO) per share has been revised upward by three cents to $5.02 [3] - Management anticipates same-store SHO net operating income to grow between 16.5% and 21.5% in 2025 [5][9] Growth Strategies - Welltower is actively pursuing growth through acquisitions, including a planned acquisition of the Amica Senior Lifestyles portfolio for C$4.6 billion, expected to close in late 2025 or early 2026 [7] - The company is optimizing its OM portfolio and strengthening relationships with health system partners to enhance long-term growth [6] Financial Health - As of March 31, 2025, Welltower had $8.6 billion in available liquidity, including $3.6 billion in cash and a fully available $5 billion line of credit. The net debt to adjusted EBITDA ratio improved to 3.33X from 4.03X year over year [10] - Welltower's debt maturities are well-laddered, with a weighted average maturity of 5.8 years, providing financial flexibility [10] Market Outlook - The combination of an increasing senior citizen population, rising healthcare expenditures, and muted new supply is expected to support Welltower's revenue growth in the coming years [5][11]