Ventas Inc. (VTR) reported third-quarter net income attributable to stockholders of $49.8 million or $0.32 per share compared to $63.8 million or $0.45 per share a year ago.
Funds from operations decreased to $98.289 million from $112.959 million last year. FFO per share was $0.63 compared to $0.80 a year ago.
Normalized funds from operations increased to $103.4 million from $96.2 million last year. Normalized FFO per share was $0.66 compared to $0.68 last year.
On average, 13 analysts polled by Thomson Reuters expected the company to report profit of $0.63 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues were $235.830 million compared to $235.121 million last year. Analysts expected revenue of $230.42 million for the quarter.
Ventas currently expects its 2009 normalized FFO per share to range between $2.62 and $2.65, improving its previously announced 2009 guidance of between $2.55 and $2.62 per share.
The company now expects fiscal 2009 net income per share attributable to stockholders in the range of $1.69-$1.71; prior guidance was a range of $1.68-$1.74.
The company now expects fiscal 2009 FFO per share in the range of $2.51-$2.53; prior guidance was a range of $2.45-$2.51.
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