Ventas CEO: ‘Senior housing recovery is well underway’ (NYSE:VTR)
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“The senior housing recovery is well underway, Ventas (NYSE:VTR) Chairman and CEO Debra A. Cafaro said at the Nareit REITweek conference Tuesday.
During the first quarter, the health care REIT experienced notable strength in its senior housing portfolio, thanks to strong growth in the U.S. and highly occupied Canadian communities, with SHOP same-store cash net operating income growing 17.4% from a year ago.
That’s the company’s second straight year of double-digit growth, management said, calling for further strength in the coming years given favorable demand-supply dynamics as well as an aging population.
In addition, “we have invested capex in a very thoughtful way,” Cafaro said, with return on investment now coming in to the tune of 20%-30%.
Asked about its triple-net senior housing portfolio, “we have the ability to capture upside” through rent resets and other tailwinds, she explained.
