Ventas: 4Q Earnings Snapshot
Editors Note Adds full-year results.
CHICAGO (AP) _ Ventas Inc. (VTR) on Friday reported a key measure of profitability in its fourth quarter. The results surpassed Wall Street expectations.
The Chicago-based real estate investment trust said it had funds from operations of $344.1 million, or 96 cents per share, in the period.
The average estimate of 10 analysts surveyed by Zacks Investment Research was for funds from operations of 95 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $62.3 million, or 17 cents per share.
The seniors housing real estate investment trust posted revenue of $923.3 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $915.4 million.
For the year, the company reported funds from operations of $1.46 billion, or $4.07 per share. Revenue was reported as $3.75 billion.
Ventas expects full-year funds from operations in the range of $3.75 to $3.85 per share.
The company's shares have increased 10 percent since the beginning of the year, while the Standard & Poor's 500 index has risen nearly 8 percent.
By The Associated Press, Copyright 2019