Ventas's second quarter FFO of $0.97 beats estimates, prompting a raise in 2026 guidance.

Ventas reported second quarter 2026 revenue of $1.73 billion and Normalized Funds From Operations (FFO) of $0.97 per share, beating consensus estimates of $1.67 billion and $0.96, respectively.

Key Highlights

• The Senior Housing Operating Portfolio (SHOP) saw same-store cash Net Operating Income (NOI) grow 16% year-over-year, driven by a 9% increase in revenue and a 300 basis point rise in average occupancy.
• Normalized FFO per share increased 9% year-over-year to $0.97, up from $0.89 in the prior year.
• The company raised its full-year 2026 Normalized FFO guidance to $3.85 - $3.90 per share and increased its expected investment volume to $4.5 billion, up from a prior outlook of $3 billion.