Ventas
Owns senior housing, outpatient medical buildings, research centers, and triple-net healthcare properties.
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Profile
Owns senior housing communities, outpatient medical buildings, research centers, hospitals, and other healthcare real estate across North America and the U.K. Resident fees drive the operating portfolio, while medical, research, and triple-net assets produce rent through leases shaped by operator performance, tenant credit, healthcare regulation, and REIT rules.
Owns senior housing communities, outpatient medical buildings, research centers, hospitals, and other healthcare facilities across the United States, Canada, and the United Kingdom.
Collects resident fees and bears property costs in the Senior Housing Operating Portfolio (SHOP), where third-party managers run communities. The Outpatient Medical and Research portfolio (OM&R) and Triple-Net Leased Properties (NNN) produce rent; triple-net tenants generally cover property expenses. Operating data and operator relationships guide acquisitions, manager selection, and property performance. Recent investment has concentrated on senior housing.
Results depend on manager execution, tenant credit, hospital and university affiliations, and access to capital. Healthcare licensing, reimbursement, property regulation, and REIT distribution and asset tests constrain operations and financing.
Company facts
Key statistics
Year to date +18.7% · Average volume (30d) 3.2M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 11, 2026 | BMO Capital | Reiterate | Outperform | $100 | $107 | |
| Jul 31, 2026 | Cantor Fitzgerald | Reiterate | Overweight | $93 | $102 | |
| Jul 22, 2026 | Mizuho Securities | Target | $98 | $104 | ||
| Jul 7, 2026 | Barclays | Downgrade | Overweight | Equal Weight | $67 | $99 |
| Jun 18, 2026 | Scotiabank | Reiterate | Sector Perform | $95 | $88 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | $0.14 | $0.14 | −1.6% | $1.68B | $1.73B | +2.9% | −5.94% |
| Apr 27, 2026Q1 FY26 | $0.12 | $0.12 | −2.4% | $1.59B | $1.66B | +4.5% | +3.39% |
| Feb 5, 2026Q4 FY25 | $0.10 | $0.15 | +49.0% | $1.50B | $1.57B | +4.1% | +3.39% |
| Oct 29, 2025Q3 FY25 | $0.87 | $0.88 | +1.1% | $1.53B | $1.49B | −2.8% | +6.56% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.36B | $1.42B | $1.49B | $1.57B | $1.66B | $1.73B | |
| Gross profit | $572.4M | $594.0M | $619.1M | −$2.13B | $655.4M | $688.7M | |
| Operating income | $197.7M | $203.4M | $221.5M | $204.2M | $191.6M | $216.0M | |
| Net income | $46.9M | $68.3M | $66.0M | $70.2M | $55.9M | $74.1M | |
| Diluted EPS | $0.11 | $0.15 | $0.14 | $0.15 | $0.11 | $0.14 | |
| Gross margin | 42.1% | 41.8% | 41.6% | -136.0% | 39.6% | 39.8% | |
| Operating margin | 14.6% | 14.3% | 14.9% | 13.0% | 11.6% | 12.5% |
Fiscal years (4-quarter sums)FY21 $3.83B · FY22 $4.13B · FY23 $4.50B · FY24 $4.92B · FY25 $5.83B
Revenue by product · Q2 FY26
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $199.0M · Total debt $13.65B · Total assets $29.66B · Shareholders' equity $14.65B
Dividends
Raised for 5 straight years — most recently to $0.52 from $0.48 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 30, 2026 | Jun 30 | Jul 16 | $0.52 | |
| Mar 31, 2026 | Mar 31 | Apr 16 | $0.52 | raised from $0.48 |
| Dec 31, 2025 | Dec 31 | Jan 15 | $0.48 | |
| Sep 30, 2025 | Sep 30 | Oct 16 | $0.48 | |
| Jun 30, 2025 | Jun 30 | Jul 17 | $0.48 | |
| Mar 31, 2025 | Mar 31 | Apr 17 | $0.48 | raised from $0.45 |
| Dec 31, 2024 | Dec 31 | Jan 16 | $0.45 | |
| Oct 1, 2024 | Oct 1 | Oct 17 | $0.45 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 486.17M · Float —
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 55.78M | 11.47% | 13F | Aug 7, 2026 |
| JPMorgan Chase & Co | 43.69M | 8.99% | 13F | Aug 12, 2026 |
| Vanguard Portfolio Management LLC | 42.63M | 8.77% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 31.76M | 6.53% | 13F | Aug 13, 2026 |
| State Street Corp | 30.53M | 6.28% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 3, 2026 | Michael J. Embler | director | +2,500 | $78.81 |
| May 14, 2026 | Walter C. Rakowich | director | −1,152 | $90.20 |
| Feb 11, 2026 | Carey S. Roberts | officer: EVP and GC | −35,532 | $85.00 |
| Feb 6, 2026 | Debra A. Cafaro | director, officer: Chairman and CEO | −10,322 | $82.23 |
| Feb 2, 2026 | Debra A. Cafaro | director, officer: Chairman and CEO | −10,322 | $77.66 |
Peers
- Welltower
Largest healthcare REIT; dominant SHOP and outpatient medical peer.
- Healthpeak Properties
Diversified healthcare REIT; life science and OMB overlap with VTR.
- Alexandria Real Estate Equities
Pioneer life science REIT; Megacampus competes with Wexford for tenants.
- Healthcare Realty
Largest pure-play MOB REIT; direct outpatient medical overlap with VTR.
- Omega Healthcare Investors
SNF-dominant NNN REIT; overlaps VTR's residual NNN, expanding to SHOP.
- Sabra Health Care REIT
Mid-cap REIT, CCP lineage; SNF NNN and growing managed senior housing.
- National Health Investors
Mid-cap NNN/SHOP REIT; private-pay senior housing focus, smaller scale than VTR.
- LTC Properties
Small-cap REIT pivoting to SHOP; senior housing NNN and operating.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Ventas | $91.58 | −0.25% | $44.63B | 170.0 | 130.6 | 6.9 | +21.7% |
| Welltower | $238.07 | +0.02% | $171.48B | 126.0 | 87.0 | 13.6 | +40.9% |
| Healthpeak Properties | $20.79 | −0.79% | $14.45B | 59.9 | 101.1 | 4.9 | +8.0% |
| Alexandria Real Estate Equities | $51.98 | +0.81% | $8.99B | — | — | 3.0 | −15.6% |
| Healthcare Realty | $18.99 | 0.00% | $6.66B | — | 275.4 | 5.8 | −5.3% |
| Omega Healthcare Investors | $46.34 | +0.75% | $13.76B | 16.4 | 23.9 | 10.6 | −7.0% |
| Sabra Health Care REIT | $20.45 | −0.80% | $5.20B | 78.5 | 28.1 | 6.0 | +24.7% |
| National Health Investors | $72.03 | 0.00% | $3.49B | 20.8 | 18.6 | 8.1 | −21.9% |
| LTC Properties | $40.89 | +0.64% | $2.08B | 14.6 | 19.7 | 6.0 | −56.2% |
| Median | 40.4 | 28.1 | 6.0 | −6.1% |