Feb 14 (Reuters) - Ventas recorded a 4.1% rise in its fourth-quarter normalized funds from operations (FFO) on Wednesday, led by strong demand for its assisted living and senior housing properties.

The real estate investment trust (REIT), however, said growth in its senior housing portfolio in 2024 will likely be partially offset by higher interest expenses and forecast full-year normalized FFO below expectations.

The Chicago-based company said it expects 2024 normalized FFO in the range of $3.07 to $3.18 per share, compared to analysts' average estimates of $3.21 per share, according to LSEG data.

Shares of the company were down 2.6% in after-the-bell trading.

There has been a growing demand for senior housing due to an ageing U.S. population. Still, new facilities have been slow to come up in a high-interest rate environment and an uncertain macroeconomic situation.

Between 2009 and 2019, the number of people in the U.S. aged 65 and over increased by 14.4 million or 36%, outpacing the 3% increase for the under-65 population, according to a report from the U.S. Department of Health and Human Services.

Elevated interest rates make borrowing expensive for the company, which owns senior housing and healthcare properties across the United States and the United Kingdom.

The company's normalized fourth-quarter funds from operations were 76 cents per share, above 73 cents a year ago.

Same-store net operating income from its senior housing rose 15% in the quarter. (Reporting by Puyaan Singh in Bengaluru; Editing by Tasim Zahid)