(Reuters) -Ventas on Wednesday posted better-than-expected normalized funds from operations (FFO) for the first quarter, driven by stable demand for its assisted living and senior housing properties.
The Chicago-based healthcare REIT owns and leases senior housing and healthcare properties in the United States and the United Kingdom, including outpatient medical buildings and research centers.
The company’s normalized FFO – a key performance measure for REITs – was 84 cents per share for the quarter ended March 31, above analysts’ average estimate of 82 cents per share, according to data compiled by LSEG.
The growing number of elderly individuals in the U.S. and their rising healthcare expenditures are fueling the need for senior housing.
“The 80+ population is set to increase meaningfully over the next few years, which will drive a material increase in demand for senior housing,” Jefferies analysts said last month.
The company reaffirmed its 2025 normalized FFO forecast of between $3.35 and $3.46 per share.
(Reporting by Sruthi Narasimha Chari in Bengaluru; Editing by Tasim Zahid and Shailesh Kuber)
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