Ventas Bested Q2 Estimates, Top Line Up 50%

Financial News Network
August 05, 2011 AT 3:18 AM
Ventas (NYSE:VTR) reported Q2 EPS of $0.80, ahead of consensus estimates of $0.76 per share. Revenues for the quarter rose 49.9% year-over-year to $364.6 million, topping consensus estimates of $308.3 million.The company raised its 2011 EPS estimate to $3.17 to $3.23, up from $3.06 to $3.14 per share, vs. consensus estimates of $3.11 per share.Ventas Chairman and Chief Executive Officer Debra A. Cafaro said, "Year-to-date 2011 has been outstanding, as we completed $11 billion of high-quality acquisitions while simultaneously improving our balance sheet and credit profile and delivering excellent results to our shareholders. With the completion of our acquisition of the Atria properties and our acquisition of Nationwide Health Properties on July 1, Ventas has a diversified portfolio of over 1,300 productive healthcare and seniors housing assets. We expect to generate nearly 70 percent of our net operating income from private pay sources, we have excellent operating partners, and we benefit from a cohesive management team focused on delivering value for stakeholders."Ventas has a potential upside of 11.7% based on a current price of $50.63 and an average consensus analyst price target of $56.55.