Tuesday, healthcare real estate investment trust Ventas, Inc. (VTR), said that it expects normalized funds from operations for the entire year 2009 to exceed the company's previously announced guidance range.
The company said that it expects to report 2009 normalized funds from operations or FFO in the range of $2.67 to $2.68 per share, which exceeds the company's previously announced guidance range of $2.62 to $2.65 per share.
On average, 13 analysts polled by Thomson Reuters expected the company to earn $2.65 per share. Analysts' estimates typically exclude special items.
"Our diversified portfolio of high-quality healthcare and seniors housing assets delivered excellent cash flows during 2009, and occupancies in our 79 communities managed by Sunrise continued to trend positively during the fourth quarter," Debra Cafaro, Ventas chairman, president and chief executive officer said.
"At year end, Ventas had strong liquidity and cash on hand, a great balance sheet and a hard-working team committed to delivering value to our stakeholders. We are well positioned as we begin a new year and a new decade," Cafaro added.
According to the company, net operating income or NOI after management fees for the Company's 79 communities that are managed by Sunrise Senior Living, Inc. (SRZ) is expected to be $130 million to $131 million for 2009, exceeding the company's prior NOI guidance of $122 million to $129 million.
The company said that it will release its final fourth quarter and full-year 2009 results on Thursday, February 18, 2010 prior to the opening of trading.
VTR is currently trading at $42.98, down $0.34 or 0.80%, on a volume of 489 thousand shares on the New York Stock Exchange.
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