Ventas Q3 2024 Earnings Report
Key Takeaways
Ventas reported strong Q3 2024 results, driven by senior housing growth. The company saw a 15.3% year-over-year growth in SHOP Same-Store Cash NOI, led by occupancy gains. Ventas has closed or placed under contract $1.7 billion of senior housing investments year to date and updated full year guidance.
Net Income Attributable to Common Stockholders per share was $0.05.
Normalized Funds From Operations (FFO) per share increased by approximately 7% year-over-year to $0.80.
Total Company Net Operating Income (NOI) grew 4.9% year-over-year.
SHOP Same-Store Cash NOI grew 15.3% year-over-year, driven by average occupancy growth of 350 basis points.
Ventas
Ventas
Ventas Revenue by Segment
Forward Guidance
The Company is updating and improving its guidance for the full year.
Positive Outlook
- Expect to close $1.7 billion of senior housing investments, with $1.4 billion closed year to date
- Expect to dispose of assets for $330 million in net proceeds
- FAD capital expenditures of ~$250 million
- General and administrative expenses expected to range from $155 million to $160 million
- Interest expense expected to range from $605 million to $609 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income