Ventas: 2Q Earnings Snapshot
CHICAGO (AP) _ Ventas Inc. (VTR) on Friday reported a key measure of profitability in its second quarter. The results topped Wall Street expectations.
The real estate investment trust, based in Chicago, said it had funds from operations of $355.3 million, or 97 cents per share, in the period.
The average estimate of 11 analysts surveyed by Zacks Investment Research was for funds from operations of 96 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $210.5 million, or 58 cents per share.
The seniors housing real estate investment trust posted revenue of $950.7 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $936.6 million.
Ventas expects full-year funds from operations in the range of $3.80 to $3.86 per share.
The company’s shares have climbed 15% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 20%.