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Triple Net Leased Properties by Segment
Tallies Ventas’s single-tenant, triple-net leased assets by property type, reflecting the portion of the portfolio with long-term, tenant-paid expenses. A larger triple-net footprint signals steadier, lower-operational-risk income and the company’s tilt toward leased, credit-backed cash flows.Ventas has materially shrunk its triple‑net senior housing footprint while IRF/LTAC holdings remain steady and SNFs fluctuate modestly — reflecting a deliberate shift of capital into operated SHOP assets. Management’s heavier SHOP investment (raised to $3B) aligns with the company’s outsized same‑store NOI, occupancy and FFO upgrades, but it also raises execution, lease‑up and near‑term cap‑ex risk (e.g., Revel, Brookdale transitions) and makes full‑year results contingent on successful execution through the May–Sept selling season despite strong liquidity.
Date | Senior Housing Communities | SNFs | IRFs & LTACs |
|---|---|---|---|
Jun 30, 2026 | 117.00 | 25.00 | 42.00 |
Mar 31, 2026 | 117.00 | 25.00 | 42.00 |
Dec 31, 2025 | 114.00 | 17.00 | 43.00 |
Sep 30, 2025 | 143.00 | 17.00 | 34.00 |
Jun 30, 2025 | 165.00 | 18.00 | 34.00 |
Mar 31, 2025 | 190.00 | 18.00 | 34.00 |
Dec 31, 2024 | 190.00 | 18.00 | 34.00 |
Sep 30, 2024 | 199.00 | 19.00 | 40.00 |
Jun 30, 2024 | 215.00 | 26.00 | 39.00 |
Mar 31, 2024 | 216.00 | 35.00 | 38.00 |