Ventas Inc Stock Research

Market Summary

USD46.03-0.12

Market Closed

-0.26%

VTR Alerts

1 major insider sales recently.
Losses in recent quarter

VTR Stock Price

VTR RSI Chart

VTR Valuation

Market Cap

15.9B

Price/Earnings (Trailing)

688

Price/Sales (Trailing)

3.93

EV/EBITDA

10.56

Price/Free Cashflow

15.11

VTR Price/Sales (Trailing)

VTR Profitability

EBT Margin

-2.28%

Return on Equity

-0.4%

Return on Assets

-0.17%

Free Cashflow Yield

6.62%

VTR Fundamentals

VTR Revenue

Revenue (TTM)

4.1B

Revenue Y/Y

2.83%

Revenue Q/Q

1.36%

VTR Earnings

Earnings (TTM)

-40.9M

Earnings Y/Y

-10.94%

Earnings Q/Q

-1.5K%

Price Action

52 Week Range

35.3362.29

(Low)(High)

Last 7 days

-3.8%

Last 30 days

-9.9%

Last 90 days

-0.3%

Trailing 12 Months

-18.5%

VTR Financial Health

Debt/Equity

1.14

Debt/Cashflow

0.09

VTR Investor Care

Dividend Yield

3.91%

Dividend/Share (TTM)

1.8

Diluted EPS (TTM)

-0.12

Peers (Alternatives to Ventas)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
PSA	51.7B	4.2B	-4.61%	-14.88%	11.88	12.36	22.43%	122.66%
DLR	30.0B	4.7B	-6.82%	-21.36%	79.47	6.4	5.96%	-77.90%
EQR	22.3B	2.7B	-9.31%	-29.65%	28.69	8.21	11.91%	-41.71%
ARE	21.2B	2.6B	-23.98%	-31.95%	40.62	8.18	22.46%	-8.68%
KIM	13.2B	1.7B	-4.07%	-13.87%	104.43	7.61	26.61%	-85.07%
MID-CAP
FRT	7.7B	1.1B	-13.38%	-14.77%	20.08	7.2	12.95%	47.42%
KRG	4.3B	802.0M	-9.03%	-5.22%	-341.02	5.37	114.83%	84.36%
VNO	2.9B	1.8B	-31.59%	-62.57%	-8.47	1.63	13.26%	-296.88%
MAC	2.1B	859.2M	-25.44%	-29.31%	-31.63	2.43	1.38%	-563.21%
SMALL-CAP
SKT	1.9B	421.4M	-3.41%	12.84%	22.56	4.55	3.35%	1705.32%
SLG	1.7B	826.7M	-30.54%	-63.53%	-22.04	2.08	-2.04%	-117.36%
AIV	1.0B	190.3M	-7.76%	-1.93%	11.27	5.46	12.08%	1950.56%
PGRE	983.2M	740.4M	-22.73%	-54.50%	-27.01	1.33	1.87%	-78.85%

Financials for Ventas

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	0.7%	4,129	4,100	4,039	3,935	3,828
S&GA Expenses	3.5%	145	140	135	132	130
Costs and Expenses	1.1%	4,223	4,178	4,198	4,004	3,990
EBITDA	0.1%	1,571	1,570	1,490	1,543	-
EBITDA Margin	-0.6%	0.38*	0.38*	0.44*	0.39*	-
Earnings Before Taxes	-21.8%	-94.14	-77.32	-158	-68.94	-162
EBT Margin	-20.9%	-0.02*	-0.02*	-0.05*	-0.02*	-
Interest Expenses	2.8%	468	455	444	440	440
Net Income	-11.7%	-40.93	-36.65	23.00	153	57.00
Net Income Margin	-10.9%	-0.01*	-0.01*	0.01*	0.04*	-
Free Cahsflow	0.1%	1,120	1,119	1,050	1,063	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	-0.6%	24,158	24,300	24,628	24,950	24,718
Cash Equivalents	-15.5%	123	145	127	150	150
Goodwill	0.1%	1,044	1,043	1,045	1,046	1,046
Liabilities	0.5%	13,672	13,610	13,742	13,844	13,492
Shareholder's Equity	-2.0%	10,153	10,361	10,603	10,793	10,854
Retained Earnings	-4.3%	-5,449	-5,223	-5,044	-4,821	-4,679
Additional Paid-In Capital	0.0%	15,540	15,533	15,514	15,478	15,499
Minority Interest	-2.6%	69.00	71.00	91.00	95.00	91.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	0.1%	1,120	1,119	1,050	1,063	1,026
Share Based Compensation	-11.2%	31.00	35.00	33.00	32.00	32.00
Cashflow From Investing	-17.2%	-859	-733	-1,162	-1,058	-724
Cashflow From Financing	26.0%	-283	-383	15.00	-16.02	-558
Dividend Payments	0.0%	720	720	709	698	687

Risks for VTR

What is the probability of a big loss on VTR?

68.5%

Probability that Ventas stock will be more than 20% underwater in next one year

38.9%

Probability that Ventas stock will be more than 30% underwater in next one year.

28.5%

Probability that Ventas stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does VTR drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Ventas was unfortunately bought at previous high price.

Drawdowns

Returns for VTR

Cumulative Returns on VTR

1.6%

10-Year Cumulative Returns

0.4%

7-Year Cumulative Returns

2.9%

5-Year Cumulative Returns

16.0%

3-Year Cumulative Returns

What are the long-term rolling returns for VTR?

FIve years rolling returns for Ventas.

Annualized Returns

Which funds bought or sold VTR recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-15	B. Riley Wealth Advisors, Inc.	added	9.32	69,966	366,966	0.01%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-50.46	-8,578,980	10,724,000	0.01%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-1.79	106,000	1,160,000	0.01%
2023-03-02	OLIVER LAGORE VANVALIN INVESTMENT GROUP	unchanged	-	451	451	-%
2023-03-02	LORING WOLCOTT & COOLIDGE FIDUCIARY ADVISORS LLP/MA	new	-	22,525	22,525	-%
2023-02-28	Voya Investment Management LLC	added	2.8	843,321	6,357,320	0.01%
2023-02-27	ST GERMAIN D J CO INC	new	-	10,587	10,587	-%
2023-02-24	SRS Capital Advisors, Inc.	new	-	1,036	1,036	-%
2023-02-24	BBJS FINANCIAL ADVISORS, LLC	new	-	474,215	474,215	0.21%
2023-02-24	NATIXIS	sold off	-100	-1,640,000	-	-%

Latest Funds Activity

Are funds buying VTR calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own VTR

No. of Funds

Ventas News

Schedule 13G FIlings of Ventas

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	fmr llc	-	0	SC 13G/A
Feb 09, 2023	vanguard group inc	16.38%	65,465,237	SC 13G/A
Feb 07, 2023	state street corp	7.28%	29,092,604	SC 13G/A
Jan 24, 2023	blackrock inc.	11.1%	44,478,452	SC 13G/A
Jan 13, 2023	jpmorgan chase & co	6.3%	25,557,048	SC 13G
Feb 14, 2022	state street corp	6.59%	26,324,409	SC 13G/A
Feb 14, 2022	cohen & steers, inc.	3.60%	14,383,334	SC 13G/A
Feb 10, 2022	vanguard group inc	15.92%	63,553,153	SC 13G/A
Feb 09, 2022	fmr llc	-	0	SC 13G
Jan 27, 2022	blackrock inc.	10.6%	42,415,032	SC 13G/A

VTR Fair Value

Recent SEC filings of Ventas

View All Filings

Date Filed	Form Type	Document
Mar 07, 2023	4	Insider Trading
Mar 07, 2023	4	Insider Trading
Mar 07, 2023	4	Insider Trading
Feb 28, 2023	4	Insider Trading
Feb 28, 2023	4	Insider Trading
Feb 28, 2023	4	Insider Trading
Feb 10, 2023	10-K	Annual Report
Feb 09, 2023	SC 13G/A	Major Ownership Report
Feb 09, 2023	SC 13G/A	Major Ownership Report
Feb 09, 2023	8-K	Current Report

Latest Insider Trading transactions for VTR

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-06	Liebbe Gregory R	sold (taxes)	-20,529	48.88	-420	svp, chief accounting officer
2023-03-05	Liebbe Gregory R	sold (taxes)	-23,527	48.51	-485	svp, chief accounting officer
2023-03-04	Hutchens James Justin	sold (taxes)	-479,667	48.51	-9,888	evp senior housing and cio
2023-03-04	Roberts Carey S.	sold (taxes)	-475,689	48.51	-9,806	evp and gc
2023-03-03	Liebbe Gregory R	acquired	-	-	5,490	svp, chief accounting officer
2023-02-24	CAFARO DEBRA A	sold (taxes)	-306,339	49.69	-6,165	chairman and ceo
2023-02-24	Bulgarelli Peter J.	sold (taxes)	-81,541	49.69	-1,641	pres&ceo-lhs/evp office-ventas
2023-02-24	Probst Robert F	sold (taxes)	-142,859	49.69	-2,875	evp and cfo
2023-02-02	CAFARO DEBRA A	sold	-1,736,830	52.74	-32,932	chairman and ceo
2023-02-02	CAFARO DEBRA A	acquired	1,707,520	51.85	32,932	chairman and ceo

About Ventas

Debra A. Cafaro

www.ventasreit.com

430

Ventas, an S&P 500 company, operates at the intersection of two powerful and dynamic industries Ã‚â€“ healthcare and real estate. As one of the world's foremost Real Estate Investment Trusts (REIT), we use the power of capital to unlock the value of real estate, partnering with leading care providers, developers, research and medical institutions, innovators and healthcare organizations whose success is buoyed by the demographic tailwind of an aging population. For more than twenty years, Ventas has followed a successful strategy that endures: combining a high-quality diversified portfolio of properties and capital sources to manage through cycles, working with industry leading partners, and a collaborative and experienced team focused on producing consistent growing cash flows and superior returns on a strong balance sheet, ultimately rewarding Ventas shareholders. As of September 30, 2020, Ventas owned or managed through unconsolidated joint ventures approximately 1,200 properties.

VTR Income Statement

2022-09-30

CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2022

Sep. 30, 2021

Sep. 30, 2022

Sep. 30, 2021

Rental income

$ 350,982

$ 383,052

$ 1,051,721

$ 1,100,003

Income from loans and investments

12,672

28,729

33,271

65,404

Interest and other income

489

417

2,191

1,343

Total revenues

1,037,276

976,078

3,077,768

2,805,563

Interest

119,413

108,816

344,158

329,634

Depreciation and amortization

301,481

313,596

873,620

878,444

Property-level operating expenses

569,826

523,328

1,686,906

1,504,123

Office building and other services costs

1,750

522

4,473

1,798

General, administrative and professional fees

35,421

30,259

111,334

101,156

Loss on extinguishment of debt, net

574

29,792

581

56,808

Transaction expenses and deal costs

4,782

22,662

37,852

28,000

Allowance on loans receivable and investments

(63)

(60)

(179)

(9,021)

Other

9,162

33,673

30,088

10,755

Total expenses

1,042,346

1,062,588

3,088,833

2,901,697

Loss before unconsolidated entities, real estate dispositions, income taxes and noncontrolling interests

(5,070)

(86,510)

(11,065)

(96,134)

Income (loss) from unconsolidated entities

1,970

2,772

(3,346)

7,289

Gain on real estate dispositions

136

150,292

2,557

194,083

Income tax benefit (expense)

6,027

(3,780)

14,307

(9,574)

Income from continuing operations

3,063

62,774

2,453

95,664

Net income

3,063

62,774

2,453

95,664

Net income attributable to noncontrolling interests

1,807

2,094

4,881

5,802

Net income (loss) attributable to common stockholders

$ 1,256

$ 60,680

$ (2,428)

$ 89,862

Basic:

Income from continuing operations, basic (in usd per share)

$ 0.01

$ 0.16

$ 0.01

$ 0.25

Net income (loss) attributable to common stockholders, basic (in usd per share)

0.00

0.16

(0.01)

0.24

Diluted:

Income from continuing operations, diluted (in usd per share)

^[1]

0.01

0.16

0.01

0.25

Net income (loss) attributable to common stockholders, diluted (in usd per share)

^[1]

$ 0.00

$ 0.16

$ (0.01)

$ 0.24

Triple-Net Leased Properties

Rental income

$ 150,115

$ 181,379

$ 451,073

$ 500,487

Property-level operating expenses

3,756

3,268

12,525

Office Operations

Rental income

200,867

201,673

600,648

599,516

Property-level operating expenses

66,098

66,401

195,297

Resident fees and services

Other revenues

668,583

558,039

1,977,760

1,622,641

Office building and other services revenue

Other revenues

4,550

5,841

$ 12,825

16,172

Senior housing

Property-level operating expenses

$ 499,972

$ 453,659

$ 1,296,301

[1]	Potential common shares are not included in the computation of diluted earnings per share when a loss from continuing operations exists as the effect would be an antidilutive per share amount.

VTR Balance Sheet

2022-09-30

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Real estate investments:
Land and improvements	$ 2,421,114	$ 2,432,065
Buildings and improvements	25,975,744	25,778,490
Construction in progress	258,281	269,315
Acquired lease intangibles	1,341,483	1,369,747
Operating lease assets	312,902	317,858
Gross real estate investments	30,309,524	30,167,475
Accumulated depreciation and amortization	(9,031,591)	(8,350,637)
Net real estate property	21,277,933	21,816,838
Secured loans receivable and investments, net	529,317	530,126
Investments in unconsolidated real estate entities	547,766	523,465
Net real estate investments	22,355,016	22,870,429
Cash and cash equivalents	145,146	149,725
Escrow deposits and restricted cash	50,492	46,872
Goodwill	1,043,289	1,046,140
Assets held for sale	99,450	28,399
Deferred income tax assets, net	13,614	11,152
Other assets	593,404	565,069
Total assets	24,300,411	24,717,786
Liabilities:
Senior notes payable and other debt	12,210,984	12,027,544
Accrued interest	92,663	106,602
Operating lease liabilities	191,880	197,234
Accounts payable and other liabilities	1,063,969	1,090,254
Liabilities related to assets held for sale	9,491	10,850
Deferred income tax liabilities	40,717	59,259
Total liabilities	13,609,704	13,491,743
Redeemable OP unitholder and noncontrolling interests	258,795	280,283
Commitments and contingencies
Ventas stockholders’ equity:
Preferred stock, $1.00 par value; 10,000 shares authorized, unissued	0	0
Common stock, $0.25 par value; 600,000 shares authorized, 399,725 and 399,420 shares issued at September 30, 2022 and December 31, 2021, respectively	99,914	99,838
Capital in excess of par value	15,533,203	15,498,956
Accumulated other comprehensive loss	(47,309)	(64,520)
Retained earnings (deficit)	(5,223,902)	(4,679,889)
Treasury stock, 10 and 0 shares issued at September 30, 2022 and December 31, 2021, respectively	(547)	0
Total Ventas stockholders’ equity	10,361,359	10,854,385
Noncontrolling interests	70,553	91,375
Total equity	10,431,912	10,945,760
Total liabilities and equity	$ 24,300,411	$ 24,717,786