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Ventas 8-K Report, Financial Results (Jul 29, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed July 29, 2026
Period End
July 29, 2026
Security
VTR
In the record · 2016–202610-K1110-Q348-K128

VTR filed 11 annual reports (10-K), 34 quarterly reports (10-Q) and 128 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Jul ’17Jul ’17
  2. Leadership change8-K · Jul ’19Jul ’19
  3. Deal closed8-K · Sep ’21Sep ’21
  4. Material agreement8-K · Apr ’25Apr ’25

01—Abstract

Summary

Summary of the 8-K filed July 29, 2026. Cited figures are marked; the original filing is the authoritative source.

Ventas, Inc. (NYSE: VTR) furnished an 8-K on July 29, 2026 under Item 2.02 (Results of Operations and Financial Condition), attaching its press release reporting results for the quarter ended June 30, 2026.

The company reported second-quarter Attributable Net Income of $0.14a per share (versus $0.15 a year earlier), Nareit FFO of $0.99 per share (versus $0.86), and Normalized FFO of $0.97 per share (versus $0.89, up 9%). Total Company NOI grew 17% year-over-year and Same-Store Cash NOI grew 10%, with the senior housing operating portfolio (SHOP) same-store cash NOI up 16%. Management raised its full-year 2026 guidance, primarily because of increased senior housing investment activity.

Normalized FFO per share guidance moved to $3.85b–$3.90 (midpoint $3.88) from $3.82–$3.89 (midpoint $3.86), and the 2026 investment volume expectation rose to $4.5 billion from $3 billion. The company closed $2.2 billion of investments in the second quarter and $3.4 billion year to date, and settled 31.4 million shares under equity forward sales agreements for $2.6 billion gross proceeds year to date. Balance sheet metrics improved, with Net Debt to Further Adjusted EBITDA at 4.7x compared with 5.6x a year earlier and liquidity of $4.9 billion as of June 30, 2026.

Cash and cash equivalents declined to $198.956 millionc from $741.067 million at December 31, 2025, while senior notes payable and other debt decreased to $12.69 billion from $13.01 billion. The earnings release and its appendix are furnished rather than filed, and the company is holding a conference call on July 30, 2026.

02—Key points

Key Highlights

  1. Normalized FFO of $0.97 per share for Q2 2026, up 9% from $0.89 a year earlier; Nareit FFO of $0.99 per share, up 15% from $0.86.
  2. Attributable Net Income of $0.14 per share, down from $0.15 in Q2 2025 (a 7% decline as stated in the filing).
  3. SHOP same-store cash NOI rose 16% year-over-year, driven by 9% same-store cash operating revenue growth and 210 basis points of NOI margin expansion; U.S. SHOP same-store cash NOI rose 18%.
  4. Full-year 2026 Normalized FFO per share guidance raised to $3.85–$3.90 from $3.82–$3.89; Nareit FFO guidance raised to $3.76–$3.81 from $3.69–$3.76.
  5. 2026 senior housing investment volume expectation increased to $4.5 billion from $3 billion; $3.4 billion closed year to date.
  6. Net Debt to Further Adjusted EBITDA improved to 4.7x from 5.6x a year earlier; liquidity of $4.9 billion as of June 30, 2026.
  7. Settled 31.4 million shares under equity forward sales for $2.6 billion gross proceeds year to date, with $1.6 billion of unsettled forwards outstanding.

03—Questions

Frequently Asked Questions

  1. Why did Ventas raise its 2026 guidance?

    The company said the guidance increase is primarily the result of increased accretive senior housing investment activity. Its 2026 investment volume expectation rose to $4.5 billion from $3 billion, and disposition and loan repayment proceeds were increased to about $700 million from about $300 million.

  2. How did senior housing performance compare in the quarter?

    SHOP same-store cash NOI increased 16% year-over-year, led by same-store cash operating revenue growth of 9%, which included RevPOR growth of 5% and average occupancy growth of 300 basis points. Same-store cash NOI margin expanded 210 basis points.

  3. Why did GAAP net income per share decline while FFO rose?

    Attributable Net Income per share was $0.14 versus $0.15 a year earlier, while Nareit FFO per share rose to $0.99 from $0.86. The reconciliation shows depreciation and amortization on real estate assets of $406.0 million in Q2 2026 versus $346.2 million in Q2 2025, which is excluded from FFO, and the filing also shows higher transaction, transition and restructuring costs of $13.5 million versus $4.6 million.

  4. How is Ventas funding its investment activity?

    The company settled 31.4 million shares of common stock under equity forward sales agreements year to date for gross proceeds of $2.6 billion and has $1.6 billion of unsettled equity forward sales agreements outstanding, for total equity capital of $4.2 billion.

  5. How did the company's leverage and liquidity change?

    Net Debt to Further Adjusted EBITDA was 4.7x at the end of the second quarter compared with 5.6x a year earlier. Liquidity was $4.9 billion as of June 30, 2026, which includes unsecured credit facility availability, cash and cash equivalents, and unsettled equity forward sales agreements.

04—Continue

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