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Revenue by Segment
Breaks down top-line revenue across Ventas’s business lines, showing how much comes from rentals, healthcare operations, and specialty properties. The split reveals diversification or concentration risk and points to which segments offer the biggest growth or exposure to market and regulatory cycles.Ventas’s growth story is decisively SHOP‑led: senior‑housing revenues have accelerated across recent quarters and management explicitly raised FFO and SHOP same‑store NOI/occupancy guidance, driving bigger capital deployment and deal activity (Revel). Triple‑net leased revenue has fallen materially into late 2025/early 2026—implying portfolio sales/reclassification that concentrate earnings risk and upside in operating SHOP assets—while outpatient/research is steady and “Other” remains lumpy. The bullish thesis hinges on executing lease‑ups and the May–Sept selling season; cap‑rate compression and transaction competition are the main upside risks.
Date | Other | Triple Net Leased Properties | SHOP | Outpatient Medical & Research Portfolio |
|---|---|---|---|---|
Jun 30, 2026 | $11.95M | $124.86M | $1.36B | $229.31M |
Mar 31, 2026 | $10.98M | $123.07M | $1.29B | $230.10M |
Dec 31, 2025 | $20.55M | $132.71M | $1.19B | $226.76M |
Sep 30, 2025 | $13.52M | $160.05M | $1.09B | $226.88M |
Jun 30, 2025 | $13.99M | $152.70M | $1.03B | $221.49M |
Mar 31, 2025 | $11.06M | $156.11M | $968.90M | $222.00M |
Dec 31, 2024 | $16.34M | $157.40M | $896.36M | $216.95M |
Sep 30, 2024 | $13.86M | $155.35M | $845.53M | $221.57M |
Jun 30, 2024 | $9.89M | $153.93M | $817.60M | $219.56M |
Mar 31, 2024 | $11.73M | $155.37M | $813.30M | $219.51M |