July 30 (Reuters) - Ventas VTR.N raised annual forecast for normalized funds from operations (FFO) on Wednesday, expecting strong demand for its assisted living and senior housing properties.
The healthcare real estate investment trust owns and leases senior housing and healthcare properties across the United States and the United Kingdom, including outpatient medical buildings and research centers.
The company's normalized FFO – a key performance metric for REITs – was 87 cents per share for the quarter ended June 30, slightly above the analysts' average estimate of 86 cents per share.
Earlier this week, larger peer Welltower WELL.N raised its forecast for annual FFO, driven by optimism around its senior housing properties.
The demand for senior housing in the United States is increasing, fueled by an aging population and higher healthcare expenditures among senior citizens.
The company now expects its 2025 normalized FFO to range between $3.41 and $3.46 per share, compared with a prior projection of $3.36 to $3.46 per share.
However, the midpoint of the new range was below analysts' average expectation of $3.45 per share, according to data compiled by LSEG.
Shares of the Chicago-based company were down 3.3% in extended trading.
(Reporting by Padmanabhan Ananthan in Bengaluru; Editing by Mohammed Safi Shamsi)
((Padmanabhan.Ananthan@thomsonreuters.com;))
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