Quarterly ResultApr 27, 2026, 04:39 PM
VTR Q1 Normalized FFO $0.94, +9%; Raises FY26 Guidance & Investments
AI Summary
Ventas, Inc. reported strong first-quarter 2026 results, driven by its senior housing operating portfolio (SHOP). Normalized FFO per share increased 9% year-over-year to $0.94, and Total Company NOI grew 14%. The company increased its full-year 2026 investment volume expectations to $3 billion and raised its full-year guidance for Normalized FFO per share, reflecting strong market momentum and investment activity.
Key Highlights
- Q1 Normalized FFO per share $0.94, up 9% YoY.
- Q1 Net Income Attributable to Common Stockholders per share $0.11, up 10% YoY.
- Total Company NOI grew 14% YoY; Same-Store Cash NOI grew 9% YoY.
- SHOP Same-Store Cash NOI increased over 15% YoY, with 310 bps occupancy growth.
- Increased 2026 investment volume expectations to $3 billion from $2.5 billion.
- Full-year 2026 Normalized FFO per share guidance raised to $3.82-$3.89.
- Net Debt-to-Further Adjusted EBITDA strengthened to 5.0x.
- $5.5 billion in liquidity as of March 31, 2026.