NYSE$VTR
Ventas Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Ventas reported a strong start to 2024, driven by organic growth in the senior housing operating portfolio (SHOP) and accelerating occupancy.
Ventas reported its Q1 2024 results, showing a net loss per share of ($0.04) but a Normalized FFO per share of $0.78, which is a 5% increase year-over-year. The company saw 8.2% year-over-year growth in Total Company Net Operating Income (NOI) and 6.7% growth in Total Company Same-Store Cash NOI. SHOP grew more than 15% year-over-year led by the U.S. which grew approximately 18% year-over-year.
- Net Loss Attributable to Common Stockholders per share was ($0.04).
- Normalized Funds From Operations (FFO) per share was $0.78, a 5% increase compared to the prior year.
- Total Company Net Operating Income (NOI) grew 8.2% year-over-year.
- Total Company Same-Store Cash NOI grew 6.7% year-over-year.
Headline financials
Revenue & EPS history
Ventas · Revenue · Quarterly
$1.2B
Revenue by segment
Ventas · $1.15B total across 6 segments · Q3 2023
- Resident fees and services$754M+12.8%65.6%
- Outpatient medical and research portfolio$226M—19.7%
- Triple-net leased properties$160M—13.9%
- Third-party capital management revenues$5.32M—0.5%
- Interest and other income$2.75M+463.2%0.2%
- Income from loans and investments$1.21M-90.5%0.1%
Forward guidance
The Company is updating and improving its guidance for the full year. Normalized Per Share FFO Range is expected to be $3.10 - $3.18.
Tailwinds
- Close ~$350M of investments focused on senior housing (no further investment activity assumed)
- Dispose of assets for $300M in net proceeds
- FAD capital expenditures of ~$250M
- General and administrative expenses expected to approximate $155M at the guidance midpoint
- Interest expense expected to range from $604M to $614M
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.6%
Avg return
Earnings day
+1.1%
Avg return
5 days after
+2.3%
Avg return
30 days after
58%
42 / 73 earnings
Positive
+13.9%
Q3 2020
Best reaction
-10.8%
Q3 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.8% | +3.9% | +1.7% | |
| Q4 2025 | +3.4% | +7.3% | +6.3% | |
| Q3 2025 | +6.8% | +7.4% | +15.5% | |
| Q2 2025 | +0.5% | +2.0% | +1.3% | |
| Q1 2025 | -6.5% | -6.1% | -8.3% | |
| Q4 2024 | +8.3% | +11.4% | +11.6% | |
| Q3 2024 | -0.8% | -2.5% | -3.0% | |
| Q2 2024 | +3.6% | +5.0% | +14.1% | |
| Q1 2024 | +4.4% | +6.3% | +13.5% | |
| Q4 2023 | -0.6% | -1.6% | -4.5% | |
| Q3 2023 | +3.0% | +2.3% | +9.3% | |
| Q2 2023 | -7.3% | -6.2% | -11.1% | |
| Q1 2023 | -2.1% | -2.8% | -3.1% | |
| Q4 2022 | -1.7% | -2.0% | -13.9% | |
| Q3 2022 | +5.7% | +13.0% | +23.7% | |
| Q2 2022 | -5.1% | -1.9% | -8.2% | |
| Q1 2022 | -1.4% | -8.9% | -2.7% | |
| Q4 2021 | +1.0% | +0.9% | +13.4% | |
| Q3 2021 | -0.5% | +3.7% | -10.7% | |
| Q2 2021 | -4.3% | -5.1% | -6.1% | |
| Q1 2021 | +1.7% | -3.4% | +5.1% | |
| Q4 2020 | +3.5% | +7.9% | +7.6% | |
| Q3 2020 | +13.9% | +17.8% | +20.3% | |
| Q2 2020 | +7.8% | +4.0% | +12.8% | |
| Q1 2020 | +7.2% | -1.1% | +59.8% | |
| Q4 2019 | +6.5% | +1.1% | -63.4% | |
| Q3 2019 | -10.8% | -10.4% | -20.8% | |
| Q2 2019 | +0.1% | -0.3% | +6.7% | |
| Q1 2019 | +0.7% | +2.8% | +10.9% | |
| Q4 2018 | -1.1% | -0.4% | -3.8% | |
| Q3 2018 | +0.6% | +2.0% | +8.0% | |
| Q2 2018 | -3.3% | -0.9% | +2.4% | |
| Q1 2018 | +8.3% | +10.3% | +13.0% | |
| Q4 2017 | -0.9% | -2.6% | -2.4% | |
| Q3 2017 | +3.5% | +3.2% | +5.9% | |
| Q2 2017 | -0.1% | -2.1% | +0.7% | |
| Q1 2017 | -0.2% | -2.1% | +3.8% | |
| Q4 2016 | +1.6% | -0.2% | -2.1% | |
| Q3 2016 | +2.0% | -4.8% | -9.3% | |
| Q2 2016 | +2.7% | -1.1% | -3.2% | |
| Q1 2016 | +0.6% | — | — | |
| Q4 2015 | +2.1% | — | — | |
| Q3 2015 | -5.7% | — | — | |
| Q2 2015 | +3.8% | — | — | |
| Q1 2015 | -1.0% | — | — | |
| Q4 2014 | -0.7% | — | — | |
| Q3 2014 | -0.6% | — | — | |
| Q2 2014 | -0.3% | — | — | |
| Q1 2014 | +2.2% | — | — | |
| Q4 2013 | -1.9% | — | — | |
| Q3 2013 | +0.9% | — | — | |
| Q2 2013 | -1.1% | — | — | |
| Q1 2013 | +0.5% | — | — | |
| Q4 2012 | +2.3% | — | — | |
| Q3 2012 | +0.4% | — | — | |
| Q2 2012 | +2.2% | — | — | |
| Q1 2012 | +0.1% | — | — | |
| Q4 2011 | +1.1% | — | — | |
| Q3 2011 | +0.9% | — | — | |
| Q2 2011 | -9.3% | — | — | |
| Q1 2011 | -1.7% | — | — | |
| Q4 2010 | -6.2% | — | — | |
| Q3 2010 | -0.5% | — | — | |
| Q2 2010 | +4.0% | — | — | |
| Q1 2009 | -0.8% | — | — | |
| Q1 2010 | -1.6% | — | — | |
| Q4 2007 | +0.2% | — | — | |
| Q4 2009 | +0.2% | — | — | |
| Q3 2008 | -2.1% | — | — | |
| Q3 2009 | -2.1% | — | — | |
| Q2 2008 | +1.7% | — | — | |
| Q2 2009 | +1.7% | — | — | |
| Q4 2008 | +1.7% | — | — |
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