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Ventas Lifts 2018 Normalized FFO/shr Outlook

Ventas Inc. (VTR) said it raised its full year 2018 normalized Funds From Operations per share expectations.

The Company's updated normalized Funds From Operations per share guidance range of $3.99 to $4.07 represents a three-cent improvement at the midpoint compared to its previously disclosed guidance of $3.95 to $4.05, driven by the strong start to the year and the impact of the Brookdale Agreement.

Ventas's updated same-store cash NOI growth guidance includes the impact of the cash rent credit on the Brookdale Portfolio beginning at the time of the Agreement, resulting in modestly lower forecasted 2018 same-store triple-net and total Company cash NOI growth compared to the Company's previously disclosed guidance. Ventas's SHOP and Office same-store cash NOI growth guidance ranges remain unchanged.

The Company now expects $1.25 billion in proceeds from asset dispositions and loan repayments for the full year 2018 at a GAAP rate of over eight percent, the proceeds of which will principally be used to retire debt. The Company has not included dispositions of the Brookdale Sale Assets in its updated guidance.

The company now expects income from containing operation to be in the range of $1.21 -$1.26 for 2018. Analysts polled by Thomson Reuters expect the company to report earnings of $1.80 per share for 2018. Analysts' estimates typically exclude special items.

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