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Ventas Announces Preliminary Seniors Housing Operating Portfolio 2012 Results

Stocks in this article: VTR

Ventas, Inc. (NYSE: VTR) (“Ventas” or the “Company”) said today that it expects to report over $386 million in 2012 Net Operating Income after management fees (“NOI”) for the Company’s seniors housing operating portfolio of high-quality, private pay communities operated by Atria Senior Living, Inc. (“Atria”) and Sunrise Senior Living, Inc. (“Sunrise”). Previously, the Company had projected NOI of between $383 million and $385 million for this portfolio. These preliminary results include NOI from discontinued operations, but exclude NOI from communities acquired in December 2012, in order to be consistent with the Company’s previously stated NOI guidance for its Atria- and Sunrise-managed communities.

Fourth quarter occupancy in the “same-store” portfolio increased both sequentially and year over year as follows:

Same-Store Q4 YoY   2012   2011
Assets   194   194
Unit Occupancy 91.9% 88.3%
 
Same-Store QoQ   4Q 2012   3Q 2012
Assets 212 212
Unit Occupancy 91.7% 90.4%

Ventas also said that its management will be conducting a property tour today of six of its assets located in the greater Phoenix area, consisting of four private pay seniors housing communities and two medical office buildings. Also, the Company’s Chief Executive Officer, Debra A. Cafaro, will participate in a panel presentation at the American Seniors Housing Association (ASHA) conference being held concurrently in Scottsdale.

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