Home Featured Ventas Inc.’s Debra Cafaro Says Diversified Business Equals Resilience

Ventas Inc.’s Debra Cafaro Says Diversified Business Equals Resilience


According to Ventas Inc.’s recent Q1 call, the REIT delivered $0.99 of normalized FFO for the quarter. Debra Cafaro, chairman and CEO of the firm, said on the firm’s call that the property portfolio delivered solid same-store growth.

“Our cash flow was strong, and our balance sheet was even stronger, some terrific capital markets activity,” she said. “We are also today reaffirming our guidance issued in February. Our skilled and tenured team continues to be positive, cohesive, and actively focused on delivering 2019 performance, and driving our pivot to growth.”

Cafaro said on the call that she was struck again this quarter by the resilience of the REIT’s large diversified business that’s expected to generate approximately $2 billion in net operating income during the year. “That indisputable demographic demand for our businesses, which is in the very preliminary stages of asserting itself, the broad-based investment opportunities we have across our verticals, our best-in-class financial conditions, our experience in proactive and effective asset management, our relationships with outstanding universities, partners and leading care providers, and the bright future ahead for Ventas.”

She continued that “It is easy to recognize these immense strengths while also acknowledging that we continue to feel the effects in our senior housing business of elevated openings of new communities as the industry works its way through the timing mismatch between delivery and demand.”

Turning to some proof points for her optimism and confidence, she noted that “office business, which should produce over $550 million in annual NOI and it’s the focus of our investment activity, turned in an excellent quarter. It delivered 3.8% same-store cash growth, hit multiple milestones, received numerous prestigious recognitions, and proved out its value in attractiveness.”