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Ventas
(NYSE:VTR)
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Rating:64Neutral
Price Target:
$95.00
â–²(1.25% Upside)
Action:Reiterated
Date:09/16/26
The score is driven primarily by strong and improving cash flows alongside upbeat operational trends and raised guidance from the earnings call, especially in SHOP performance and occupancy-led NOI/margin expansion. These positives are tempered by elevated leverage and income-statement volatility (negative gross profit in recent periods), while near-term technicals are weak and valuation is pressured by a very high P/E despite a moderate dividend yield.
Positive Factors
Strong cash generation
Ventas generates substantial and rising operating and free cash flow, providing a durable funding base for dividends, reinvestment, and debt management. Cash flow that materially exceeds accounting earnings also gives the company flexibility to pursue healthcare real estate opportunities through changing market conditions.
Negative Factors
Elevated leverage
Meaningful leverage reduces financial flexibility for a defensive real estate company, particularly if property fundamentals weaken or financing conditions remain challenging. Debt obligations can constrain capital allocation, increase sensitivity to funding costs, and limit the capacity to absorb prolonged operating pressure.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Ventas generates substantial and rising operating and free cash flow, providing a durable funding base for dividends, reinvestment, and debt management. Cash flow that materially exceeds accounting earnings also gives the company flexibility to pursue healthcare real estate opportunities through changing market conditions.
Read all positive factors
Ventas Key Performance Indicators (KPIs)
Any
Revenue by Type
Separates revenue into categories like contractual rent, operating income from managed communities, and fees, clarifying which cash flows are recurring versus variable. For investors in Ventas, this helps judge dividend sustainability and the sensitivity of revenue to occupancy, reimbursement, or management performance.
Separates revenue into categories like contractual rent, operating income from managed communities, and fees, clarifying which cash flows are recurring versus variable. For investors in Ventas, this helps judge dividend sustainability and the sensitivity of revenue to occupancy, reimbursement, or management performance.
Data provided by:
The Fly
The FlyVentas (VTR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$43.90B
Dividend Yield2.43%
Average Volume (3M)3.28M
Price to Earnings (P/E)152.7
Beta (1Y)0.21
Revenue Growth21.49%
EPS Growth26.45%
CountryUS
Employees542
SectorReal Estate
Sector Strength53
IndustryREIT - Healthcare Facilities
Share Statistics
EPS (TTM)0.55
Shares Outstanding512,946,350
10 Day Avg. Volume4,369,127
30 Day Avg. Volume3,282,539
Financial Highlights & Ratios
PEG Ratio0.80
Price to Book (P/B)2.81
Price to Sales (P/S)6.04
P/FCF Ratio26.75
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$99.93Price Target Upside6.50% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering15
EPS Forecast (FY)0.59
Revenue Forecast (FY)$6.96B
Ventas Business Overview & Revenue Model
Company Description
Ventas, Inc. is an S&P 500 company enabling exceptional environments that benefit a large and growing aging population. With approximately 1,450 properties in North America and the United Kingdom, Ventas occupies an essential role in the longevity...
How the Company Makes Money
Ventas makes money primarily by generating recurring real estate income from its healthcare property portfolio. Key revenue streams include: (1) Rental and lease income: For properties operated under triple-net or other lease arrangements, Ventas ...
Ventas Earnings Call Summary
Earnings Call Date:Jul 29, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 27, 2026
Earnings Call Sentiment Positive
The call emphasized strong operating momentum driven by senior housing: robust same‑store NOI (10% total, 16% SHOP), occupancy gains (300 bps+), revenue and margin expansion, and an upgraded investment plan to $4.5B for 2026. Balance sheet metrics improved (net debt/EBITDA 4.7x, $4.9B liquidity) and FFO guidance was raised. Challenges noted include interest rate/FX headwinds, development economics that currently do not pencil, competitive market pricing, and some non‑core asset recycling. On balance, positive operational execution, upgraded guidance, and an active accretive investment program materially outweigh the listed challenges.Positive Updates
Strong Same‑Store NOI Growth
Total company same‑store cash NOI increased 10% year‑over‑year; same‑store SHOP NOI rose 16% Y/Y with U.S. SHOP leading at 18% Y/Y.
Negative Updates
Interest Rate and FX Headwinds
Higher interest rates and a stronger U.S. dollar (and stronger share price) reduced the FFO guide by roughly $0.01 per share and were cited as partial offsets to investment benefits.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Same‑Store NOI Growth
Total company same‑store cash NOI increased 10% year‑over‑year; same‑store SHOP NOI rose 16% Y/Y with U.S. SHOP leading at 18% Y/Y.
Read all positive updates
Company Guidance
Ventas raised and refined its 2026 outlook: normalized FFO is now $3.85–$3.90/share (midpoint $3.88, +8–10% YoY; Q2 normalized FFO $0.97, +9% YoY) and full‑year net income is guided to $0.58–$0.63/share (midpoint $0.61). Management reaffirmed SHOP same‑store NOI guidance of ~16% (total company same‑store NOI was +10% in Q2), raised full‑year same‑store occupancy growth to ~300 bps YoY (Q2 U.S. SHOP: +18% NOI, +360 bps occupancy), and reported RevPOR +5%, same‑store revenue ≈+9%, same‑store operating expenses ≈+5%, NOI margin up 210 bps to 31% and incremental margin flow‑through ≈55%. Capital deployment assumptions were increased to $4.5B of 2026 senior‑housing investments (from $3B) with YTD investments >$3B (≈$3.4B), average expected year‑1 yield ~6.6% and double‑digit to mid‑teens unlevered IRRs, dispositions/loan repayments raised to ~$700M, liquidity ≈$4.9B and net debt/EBITDA improved to ~4.7x.Ventas Financial Statement Overview
Summary
Income Statement
67
Positive
Balance Sheet
58
Neutral
Cash Flow
76
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.44B | 5.83B | 4.92B | 4.50B | 4.13B | 3.83B |
| Gross Profit | -166.48M | -344.22M | 2.10B | 1.94B | 1.85B | 1.74B |
| EBITDA | 2.50B | 2.24B | 1.94B | 1.95B | 1.62B | 1.72B |
| Net Income | 266.27M | 251.38M | 81.15M | -40.97M | -47.45M | 49.01M |
Balance Sheet | ||||||
| Total Assets | 29.66B | 27.59B | 26.19B | 24.73B | 24.16B | 24.72B |
| Cash, Cash Equivalents and Short-Term Investments | 198.96M | 741.07M | 897.85M | 508.79M | 122.56M | 149.72M |
| Total Debt | 13.65B | 13.22B | 13.74B | 13.69B | 12.49B | 12.22B |
| Total Liabilities | 14.44B | 15.01B | 15.36B | 15.18B | 13.94B | 13.77B |
| Stockholders Equity | 14.65B | 12.53B | 10.77B | 9.49B | 10.15B | 10.85B |
Cash Flow | ||||||
| Free Cash Flow | 1.61B | 1.32B | 1.06B | 935.13M | 926.34M | 858.69M |
| Operating Cash Flow | 1.84B | 1.68B | 1.34B | 1.19B | 1.15B | 1.04B |
| Investing Cash Flow | -4.66B | -2.73B | -2.39B | -239.20M | -882.33M | -764.48M |
| Financing Cash Flow | 2.38B | 875.73M | 1.45B | -563.88M | -289.13M | -535.97M |
Ventas Technical Analysis
Negative
93.83
Price Trends
90.19
Negative
88.69
Negative
84.88
Negative
Market Momentum
-1.59
Positive
28.62
Positive
8.12
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VTR, the sentiment is Negative. The current price of 93.83 is above the 20-day moving average (MA) of 87.09, above the 50-day MA of 90.19, and above the 200-day MA of 84.88, indicating a bearish trend. The MACD of -1.59 indicates Positive momentum. The RSI at 28.62 is Positive, neither overbought nor oversold. The STOCH value of 8.12 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for VTR.
Ventas Risk Analysis
Ventas disclosed 52 risk factors in its most recent earnings report. Ventas reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Ventas Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $163.57B | 118.06 | 3.15% | 1.35% | 37.49% | -142.31% | |
77 Outperform | $8.49B | 22.55 | 8.54% | 4.15% | 53.07% | 32.48% | |
74 Outperform | $13.71B | 15.82 | 16.51% | 5.88% | 15.18% | 72.69% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | $43.90B | 152.75 | 2.02% | 2.43% | 21.49% | 26.45% | |
63 Neutral | $13.73B | 55.69 | 3.30% | 6.26% | 5.52% | 48.98% | |
63 Neutral | $5.97B | -66.60 | -1.94% | 5.50% | -6.28% | 77.63% |
* Real Estate Sector Average
VTR
Ventas
84.01
15.93
23.40%
DOC
Healthpeak Properties
19.49
1.36
7.50%
WELL
Welltower
227.71
55.21
32.01%
OHI
Omega Healthcare
45.72
6.92
17.84%
HR
Healthcare Realty Trust
17.47
0.47
2.79%
CTRE
CareTrust REIT
36.30
2.20
6.46%
Ventas Corporate Events
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
Ventas Appoints Laurida Sayed as Chief Accounting Officer
Positive
Sep 15, 2026
On September 10, 2026, Ventas, Inc. approved the appointment of Laurida Sayed as Senior Vice President, Chief Accounting Officer and Controller, effective on or around October 5, 2026, with Executive Vice President and Chief Financial Officer Robe...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.