Ventas, Inc. reported significant financial performance for the second quarter of 2025, with net income attributable to common stockholders reaching $68.3 million, a substantial increase from $19.4 million in the same period last year. For the six months ended June 30, 2025, net income rose to $115.1 million compared to $5.1 million in 2024. The company’s total revenues for the second quarter were $1.42 billion, up from $1.20 billion year-over-year, driven primarily by increased resident fees and services in its senior housing operating portfolio (SHOP) segment.
The company experienced notable growth in its SHOP segment, with net operating income (NOI) increasing by 33.7% to $286.4 million for the three months ended June 30, 2025, compared to $214.2 million in the prior year. This growth was attributed to a rise in average occupancy rates and revenue per occupied room, alongside the acquisition of additional properties. Ventas acquired 23 senior housing communities for $961.5 million during the first half of 2025 and transitioned 11 communities in the UK to its SHOP segment, reflecting its strategic focus on expanding its portfolio.
In terms of operational metrics, the company reported an average occupancy rate of 86.5% for its SHOP properties, up from 83.8% in the previous year. The average monthly revenue per occupied room also increased to $5,241, compared to $4,893 in the prior year. The outpatient medical and research (OM&R) segment saw a slight increase in NOI, while the triple-net leased properties (NNN) segment experienced a minor decline in NOI, primarily due to properties transitioning to the SHOP segment.
Looking ahead, Ventas maintains a strong liquidity position with $4.7 billion available, including $3.5 billion from its unsecured revolving credit facility. The company has also amended its at-the-market equity offering program, increasing the gross sales price of common stock available for issuance to $2.25 billion. Ventas plans to continue focusing on strategic acquisitions and maintaining financial flexibility to support its growth objectives, while also navigating potential market risks associated with interest rates and economic conditions.
About Ventas, Inc.
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