Ventas performs at high end of expectations in second quarter – McKnight’s Senior Living

The business performance of Chicago-based real estate investment trust Ventas during the second quarter was at the high end of expectations, Ventas Chairman and CEO Debra Cafaro said Friday during a second-quarter earnings.

The REIT’s senior housing operating portfolio benefited from strong demand and expanded pricing power, offsetting anticipated expense growth caused by inflationary pressures, she said. Favorable supply and demand conditions, minimal competition and a growing population of older adults entering the market place point to strong results for Ventas in the future, according to the company.

Occupancy, revenues grow

Overall same-store senior housing operating portfolio revenue in the second quarter grew year over year by more than 10% due to positive trends in average occupancy, which grew by 390 basis points (3.9%) to 83.7% in the second quarter.

“Robust” demand continued a trend of positive net move-ins in 16 of the past 17 months, according to Executive Vice…

Read Full Story: https://www.mcknightsseniorliving.com/home/news/ventas-performs-at-high-end-of-expectations-in-second-quarter/

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