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Ventas (VTR.N), opens new tab raised the lower end of its forecast for annual funds from operations on Thursday, banking on continued strength for its assisted living and senior housing properties to drive performance.
The demand for senior housing in the United States has been increasing driven by a growing population of people over 65 and rising healthcare expenditure for senior citizens.
Same store net operating income in its senior housing operating portfolio rose 15.2% in the quarter compared to the year-ago quarter.
The company now sees 2024 normalized FFO, a key performance measure for real estate investment trusts (REITs) between $3.12 and $3.18 per share, compared to its previous view of $3.10 to $3.18 per share.