Ventas Offers 8.5 Million Shares, $200m Notes

Its guidance for funds from operations, or FFO, is "normalized," meaning it excludes items such as gains and losses on the sale of assets, impact of future transactions, costs, expenses and write-offs.

FFO, which adds such items as amortization and depreciation back to net income, is considered a key measure of strength for REITs because it provides a more accurate picture of cash performance.

Analysts expect FFO to be of $2.61 per share. Analysts typically exclude one-time items from their estimates.

Ventas shares fell 62 cents, or 2.4 percent, to close at $25.42.

The company owns seniors housing communities, skilled nursing facilities, hospitals, medical office buildings and other properties in 43 states and two Canadian provinces.