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Ventas’ Net Income Rebounds 155% Y-O-Y in Q2
Ventas, Inc. staged a powerful year-over-year comeback from the pandemic’s impact on operating results in second-quarter 2020. The healthcare REIT on Friday announced that net income rose 155% to 23 cents per share in Q2 of this year, compared to a 42 cents/share loss a year ago. Nareit funds from operations rose 56% Y-O-Y.
“Ventas delivered strong second quarter results driven by outstanding sequential occupancy improvement and organic net operating income growth in our Senior Housing Operating Portfolio (SHOP) segment, office growth and consistent and solid performance in our triple net segment,” said Debra A. Cafaro, Ventas chairman and CEO.
Notwithstanding a recent spike in COVID-19 cases, Cafaro expressed confidence in the SHOP segment’s durability. “We are confident about the future of our business, the powerful senior housing cyclical upside and our ability to win the recovery with our advantaged, well diversified portfolio, best-in-class operators and experienced team,” she said.
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