Ventas, Inc. (NYSE: VTR) delivered robust monetary outcomes for the fourth quarter and full yr 2025, pushed by distinctive efficiency in its senior housing working portfolio (SHOP). The corporate tasks 13% to 17% same-store NOI progress for SHOP in 2026 whereas planning vital investments in senior housing.2426
2025 Monetary Highlights
Attributable internet earnings per share reached $0.15 in This autumn 2025, up 15% year-over-year, with Nareit FFO per share at $0.91, up 7%, and normalized FFO per share at $0.89, up 10%. For the total yr, attributable internet earnings per share climbed to $0.54, up 184%, Nareit FFO per share to $3.50, up 11%, and normalized FFO per share to $3.48, up 9%.26
Whole firm NOI grew 15% year-over-year in This autumn and 16% for the total yr, with same-store money NOI up 8% in each durations. SHOP same-store money NOI surged over 15% for the yr, led by the U.S. portfolio’s 18% improve, fueled by 370 foundation factors of common occupancy progress—490 foundation factors at U.S. unbiased dwelling communities—and powerful RevPOR features.26
SHOP Momentum Continues
“2025 was an excellent yr for Ventas. We delivered robust outcomes from the execution of our 1-2-3 Technique centered on senior housing, as secular demand from a big and rising getting old inhabitants fueled our success,” said Debra A. Cafaro, Chairman and CEO. The portfolio marked its fourth straight yr of double-digit same-store money NOI progress, with common occupancy up 300 foundation factors year-over-year.2426
2026 Outlook and Investments
Ventas forecasts normalized FFO per share of $3.78 to $3.88 for 2026, with a midpoint of $3.83, representing 8% progress on a comparable foundation. The steerage incorporates vital SHOP NOI enlargement of 13% to 17%, roughly $2.5 billion in senior housing investments, and $300 million in disposition proceeds.2426
The corporate accomplished $2.5 billion in accretive senior housing investments in 2025 and has already closed over $0.8 billion year-to-date in 2026, adhering to its Proper Market, Proper Asset, Proper Operator framework. Internet debt-to-further adjusted EBITDA stands at 5.2x, with $5.3 billion in liquidity as of December 31, 2025.26
Dividend Enhance
Reflecting confidence in its outlook, Ventas raised its quarterly dividend by 8% to $0.52 per widespread share, payable April 16, 2026, to stockholders of file on March 31, 2026. “We’re rising our quarterly dividend to widespread stockholders because of our robust outcomes and optimistic outlook,” Cafaro added.26
