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Ventas Inc (VTR) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

SEC Filings

Ventas Inc

CIK: 740260 Ticker: VTR

Exhibit 99.1

Ventas Reports 2018 Third Quarter Results

CHICAGO--(BUSINESS WIRE)--October 26, 2018--Ventas, Inc. (NYSE: VTR) today announced its results for the third quarter ended September 30, 2018.

“Ventas continued to deliver solid results in the third quarter. We grew property cash flows from our high-quality, balanced portfolio, further strengthened our financial position and drove positive investment momentum, including with existing best-in-class developer and operator relationships in our outpatient and medical office building footprint and university-based research platform,” said Debra A. Cafaro, Ventas Chairman and Chief Executive Officer. “Our talented team is sharply focused on executing on our key priorities, achieving our stated financial goals and positioning Ventas for a strong and profitable future.”

Third Quarter Performance

  • Income from continuing operations per share was $0.29 compared to $0.44 in the same period in 2017. The change from the third quarter 2017 was principally due to the factors set forth below for normalized FFO, in addition to charges from the successful early refinancing of debt.
  • Normalized Funds From Operations (“FFO”) per share was $0.99 compared to $1.04 in the same period in 2017. The change from the third quarter 2017 was principally due to the cumulative impact of using proceeds from asset divestitures and loan receivable collections to retire and reduce the Company’s debt balance. This impact was partially offset by growing property performance and the expected receipt of a $12 million, or $0.03 per share, fee in connection with Kindred Healthcare, Inc.’s “go private” transaction in July.
  • Reported FFO per share, as defined by the National Association of Real Estate Investment Trusts (“Nareit FFO”) was $0.88 compared to $1.02 in the same period in 2017. The change from the third quarter 2017 was principally due to the factors set forth above for income from continuing operations.
  • For the third quarter 2018, the Company’s same-store total property portfolio (1,063 assets) cash NOI grew 1.3 percent compared to the same period in 2017. Same-store cash NOI growth by segment follows:
    Same-Store Cash NOI
Q3 2018
Reported Growth
 
Triple-Net (“NNN”) 3.0%
Seniors Housing Operating Portfolio (“SHOP”) (2.7%)
Office 3.5%
Total Company 1.3%
 
  • The year-over-year changes in the Company’s quarterly same-store property results were driven by:
    • In the NNN portfolio, growth was due largely to in-place lease escalations.
    • For SHOP, performance was in-line with expectations and driven by the elevated number of new community openings in certain markets.
    • Office portfolio growth was principally due to excellent performance from Ventas’s university-based life science properties in addition to strong medical office building (“MOB”) in-place lease escalations and best-in-class tenant retention.

The following information was filed by Ventas Inc (VTR) on Friday, October 26, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Ventas Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Equity
Consolidated Statements Of Equity (Parenthetical)
Consolidated Statements Of Income
Accounting Policies
Accounting Policies (Policies)
Accounting Policies (Tables)
Accounting Policies - Accounting For Historic And New Markets Tax Credits (Details)
Accounting Policies - Assets Held For Sale And Discontinued Operations (Details)
Accounting Policies - Recently Issued Or Adopted Accounting Standards (Details)
Accounting Policies - Redeemable Op Unitholder And Noncontrolling Interest (Details)
Accounting Policies - Revenue Recognition (Details)
Accounting Policies - Schedule Of Vies (Details)
Concentration Of Credit Risk
Concentration Of Credit Risk (Tables)
Concentration Of Credit Risk - (Details)
Concentration Of Credit Risk - Senior Living Operations (Details)
Concentration Of Credit Risk - Triple-Net Leased Properties (Details)
Condensed Consolidating Information (Unaudited)
Condensed Consolidating Information (Unaudited) - Balance Sheet (Details)
Condensed Consolidating Information (Unaudited) - Statement Of Cash Flows (Details)
Condensed Consolidating Information (Unaudited) - Statement Of Income (Details)
Condensed Consolidating Information (Unaudited) - Statements Of Comprehensive Income (Details)
Condensed Consolidating Information (Unaudited) (Tables)
Description Of Business
Description Of Business (Details)
Dispositions
Dispositions (Tables)
Dispositions - Dispositions - (Details)
Dispositions - Real Estate Assets Held For Sale (Details)
Earnings Per Common Share
Earnings Per Common Share (Details)
Earnings Per Common Share (Tables)
Fair Values Of Financial Instruments
Fair Values Of Financial Instruments (Details)
Fair Values Of Financial Instruments (Tables)
Income Taxes
Income Taxes (Details)
Intangibles
Intangibles (Details)
Intangibles (Tables)
Investments In Unconsolidated Entities
Investments In Unconsolidated Entities (Details)
Litigation
Loans Receivable And Investments
Loans Receivable And Investments - Loans Receivable And Investments - (Details)
Loans Receivable And Investments (Details)
Loans Receivable And Investments (Tables)
Loans Receivable And Investments 2018 Activity (Details)
Other Assets
Other Assets (Details)
Other Assets (Tables)
Segment Information
Segment Information (Tables)
Segment Information - Capital Expenditures (Details)
Segment Information - Income Statement (Details)
Segment Information - Narrative (Details)
Segment Information - Revenue And Net Real Estate Property (Details)
Senior Notes Payable And Other Debt
Senior Notes Payable And Other Debt (Tables)
Senior Notes Payable And Other Debt - Credit Facilities And Unsecured Term Loans (Details)
Senior Notes Payable And Other Debt - Derivatives And Hedging (Details)
Senior Notes Payable And Other Debt - Indebtedness Of Maturities (Details)
Senior Notes Payable And Other Debt - Mortgage Loan Obligations (Details)
Senior Notes Payable And Other Debt - Senior Notes (Details)
Senior Notes Payable And Other Debt - Summary Of Senior Notes Payables And Other Debt (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Capital Stock (Details)
Stockholders' Equity - Summary Of Accumulated Other Comprehensive Income (Details)
Ticker: VTR
CIK: 740260
Form Type: 10-Q Quarterly Report
Accession Number: 0000740260-18-000179
Submitted to the SEC: Fri Oct 26 2018 12:08:10 PM EST
Accepted by the SEC: Fri Oct 26 2018
Period: Sunday, September 30, 2018
Industry: Real Estate Investment Trusts

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