Sector: Real Estate|Industry: REIT - Healthcare Facilities|Market Cap: $24.66B|Employees: 486
Ventas, Inc. is a real estate investment trust (REIT) that focuses on senior housing communities, outpatient medical buildings, research centers, hospitals, and healthcare facilities in North America and the United Kingdom. The company's core business model involves owning and investing in these properties, with revenue streams derived from rents and management fees. Ventas aims to capitalize on the growing aging population and maintain a diversified portfolio across different geographies and property types.
The company reported a net loss of $12.54 million for the three months ended March 31, 2024, compared to a net income of $18.91 million for the same period in 2023. This represents a substantial decrease in profitability year-over-year.
Total revenues increased to $1,199.91 million for the three months ended March 31, 2024, up from $1,077.24 million in the same period of 2023. This growth was driven by increases in rental income, resident fees and services, and third-party capital management revenues.
Total expenses increased to $1,207.42 million for the three months ended March 31, 2024, up from $1,065.71 million in the same period of 2023. Significant increases were seen in interest expense, depreciation and amortization, and property-level operating expenses which offset the revenue growth and led to a net loss.