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Ventas, Inc. (VTR) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Ventas Inc

CIK: 740260 Ticker: VTR
Exhibit 99.1

Ventas Reports 2019 Third Quarter Results

CHICAGO--(BUSINESS WIRE)--October 25, 2019--Ventas, Inc. (NYSE: VTR) today announced its results for the third quarter ended September 30, 2019.

“Ventas delivered strong enterprise level results in the third quarter, driven by our diverse portfolio including robust performance in our Medical Office, Healthcare and Research & Innovation portfolios, our high quality and accretive investments and effective capital markets execution. We have maintained the midpoint of our normalized FFO per share expectations for 2019, and we continue to invest in our future,” said Debra A. Cafaro, Ventas Chairman and CEO.

Cafaro added, “Given challenging senior housing market conditions, our senior housing operating portfolio did not perform consistent with historical patterns or our expectations in the quarter, a trend we expect to continue for the balance of the year. As a result, while national leading indicators of supply and demand in the senior housing sector continue to improve, giving us confidence in the powerful upside that lies ahead, we have reduced our 2019 property level guidance for our senior housing operating business. This changed expectation leads us to conclude that our return to enterprise growth will occur after 2020.

“We have built a strong, diverse and resilient business well positioned to capitalize on strong demographic demand growth. We are committed to enhancing value for shareholders and are taking actions that will improve performance and deliver growth and value.”

Third Quarter 2019 Company Performance

  • Net income attributable to common stockholders per diluted share for the third quarter 2019 was $0.23 compared to $0.28 in the same period in 2018. The year-over-year change was principally driven by the positive contribution from new investments, more than offset by higher depreciation and amortization in the third quarter 2019 and the receipt of a $12 million cash fee (the “2018 Fee”) in the third quarter of 2018.
  • Reported Funds from Operations per share, as defined by the National Association of Real Estate Investment Trusts (“Nareit FFO”) was $0.84 compared to $0.88 in the same period in 2018. The change from 2018 results was due to the factors described above, excluding the impact of depreciation and amortization.
  • Normalized Funds from Operations (“FFO”) per share for the third quarter 2019 was $0.96 compared to $0.99 in 2018. The change from 2018 was primarily the result of growth in income from new investments, more than offset by the receipt of the 2018 Fee in the third quarter of 2018.

Third Quarter 2019 Portfolio Performance

  • For the third quarter 2019, the Company’s quarterly same-store total property portfolio (1,107 assets, representing 93 percent of the company’s consolidated assets) cash net operating income (“NOI”) rose 0.1 percent compared to the same period in 2018. Year-to-date 2019, the Company’s full year same-store total property portfolio (1,094 assets) cash NOI grew 0.5 percent compared to the same period in 2018. Reported same-store cash NOI performance by segment for the third quarter 2019 and year-to-date 2019 are as follows:

 

 

 

Same-Store Cash NOI

 

 

 

Reported Growth

 

 

 

Q3 2019

 

Year-To-Date 2019

 

 

 

 

 

 

Triple-Net (“NNN”)

 

 

2.1%

 

2.3%

Senior Housing Operating Properties (“SHOP”)

 

 

(5.0%)

 

(3.5%)

Office

 

 

3.7%

 

2.9%

Total Company

 

 

0.1%

 

0.5%


The following information was filed by Ventas Inc (VTR) on Friday, October 25, 2019 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 - 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)
Acquisitions Of Real Estate Property (Narrative) (Details)
Acquisitions Of Real Estate Property-Dormant
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 2019 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, Commerical Paper And Unsecured Term Loans (Details)
Senior Notes Payable And Other Debt - Indebtedness Of Maturities (Details)
Senior Notes Payable And Other Debt - Mortgages (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: 0000740260-19-000168
Submitted to the SEC: Fri Oct 25 2019 11:27:16 AM EST
Accepted by the SEC: Fri Oct 25 2019
Period: Monday, September 30, 2019
Industry: Real Estate Investment Trusts

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