Upcoming AWS Coverage on Medical Properties Trust Post-Earnings Results

LONDON, UK / ACCESSWIRE / May 11, 2017 / Active Wall St. announces its post-earnings coverage on Ventas Inc. (NYSE: VTR). The Company announced its financial results for the first quarter fiscal 2017 (Q1 FY17) on April 28, 2017. The Chicago, Illinois-based Company's total revenues grew on year-over-year basis, outperforming market consensus estimates. Register with us now for your free membership at:

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One of Ventas' competitors within the REIT - Healthcare Facilities space, Medical Properties Trust, Inc. (NYSE: MPW), released its Q1 2017 financial results on May 04, 2017. AWS will be initiating a research report on Medical Properties Trust in the coming days.

Today, AWS is promoting its earnings coverage on VTR; touching on MPW. Get our free coverage by signing up to:

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Earnings Reviewed

During Q1 FY17, Ventas' total revenues grew to $883.44 million from $852.29 million in Q1 FY16. The Company's total revenues numbers also topped market consensus estimates of $872.2 million. The Company generated $395.22 million of revenues from rental income in Q1 FY17, up from $358.62 million in the year ago same period. Resident fees and services revenues during Q1 FY17 were $464.19 million versus $463.98 million in the previous year same quarter. In Q1 FY17, Office building and other services revenue fell to $3.41 million from $7.19 million in Q1 FY16. Income from loans and investment were $20.15 million in Q1 FY17 compared to $22.39 million in Q1 FY16. Furthermore, interest and other income during the reported quarter was $0.48 million compared to $0.12 million in the prior year's corresponding quarter.

The seniors housing REIT reported income from continuing operations of $155.91 million, or $0.44 per diluted share, in Q1 FY17 compared to $123.34 million, or $0.36 per diluted share, in Q1 FY16. The Company's normalized FFO attributable to common stockholders during Q1 FY17 stood at $368.05 million, or $1.03 per diluted share, compared to $351.67 million, or $1.04 per diluted share, in Q1 FY16. Meanwhile, Wall Street had expected the Company to report normalized FFO of $1.02 per diluted share

Earnings Metrics

Ventas' total expenses were marginally down to $733.83 million in Q1 FY17 from $737.17 million in Q1 FY16. For Q1 FY17, the Company's adjusted pro-forma EBITDA came in at $501.84 million. During Q1 FY17, the Company's reported segment net operating income (NOI) stood at $513.24 million compared to $492.50 million in the prior year's same quarter. Furthermore, the Company's same-store NOI for Q1 FY17 was $446.22 million, up 3.9% from $429.50 million in the previous year's same quarter.

For the quarter ended March 31, 2017, Triple-Net Leased Properties portfolio's same-store NOI were $201.28 million, rising 4.7% from $192.24 million in the quarter ended March 31, 2016. Senior Living Operations portfolio's same-store NOI also improved 2.9% to $146.32 million in Q1 FY17 from $142.14 million in the last year's comparable quarter. Additionally, Office Operations portfolio's same-store NOI for the reported quarter stood at $98.63 million, up 3.7% from $95.12 million in the year ago same quarter.

Cash Flow and Balance Sheet

In Q1 FY17, net cash provided by operating activities was $335.73 million compared to $277.15 million in Q1 FY16. As on March 31, 2017, the Company had cash and cash equivalents balance of $91.28 million versus $51.70 million as on March 31, 2016. The Company's senior notes payable and other debt balance was $11.94 billion as on March 31, 2017, compared to $11.25 billion as on March 31, 2016. Furthermore, net debt to adjusted pro-forma EBITDA ratio of 5.9 times at the end of the reported quarter.

Outlook

Ventas' management confirmed the previously provided guidance for FY17, and expects income from continuing operations to be in the range of $1.72 per diluted common share to $1.78 per diluted common share. Consistent with previously disclosed guidance, the Company forecasts normalized FFO for FY17 to be between $4.12 per diluted common share and $4.18 per diluted common share. Furthermore, NAREIT FFO is anticipated to be in the range of $4.10 per diluted common share to $4.19 per diluted common share in FY17, also in-line with its previously provided guidance.

Stock Performance

On Wednesday, May 10, 2017, Ventas' share price finished the trading session at $64.02, rising 2.22%. A total volume of 1.95 million shares exchanged hands. The stock has advanced 4.09% and 0.25% in the last three months and past twelve months, respectively. Furthermore, since the start of the year, shares of the Company have gained 3.64%. The stock is trading at a PE ratio of 38.73 and has a dividend yield of 4.84%.

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SOURCE: Active Wall Street