Ventas Posts Profit In Q3

(RTTNews) - Ventas, Inc. (VTR) Wednesday reported third-quarter net income of $19.2 million or $0.05 per share, compared to a loss of $71.12 million or $0.18 per share last year.

Nareit FFO attributable to common stockholders was $331.49 million or $0.79 per share, compared to $294.96 million or $0.73 per share last year.

Normalized FFO attributable to common stockholders for the quarter was $334.52 million or $0.80 per share, compared to $304.56 million or $0.75 per share last year.

Total revenues for the quarter rose to $1.236 billion from $1.149 billion last year.

Analysts polled by Thomson Reuters expected a loss of $0.03 per share on revenues of $1.21 billion.

Looking forward to the full year 2024, the company expects net income per share of $0.09 to $0.13, Nareit FFO per share of $3.04 to $3.08 and Normalized FFO per share of $3.14 to $3.18.

Previously, the company expected net income per share of $0.07 to $0.13, Nareit FFO per share of $3.02 to $3.08 and Normalized FFO per share of $3.12 to $3.18.