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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Ventas
Ventas (VTR) investor relations material
Ventas Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary28 Oct, 2026
Executive summary
Q3 Normalized FFO per share was $0.99, up 10% YoY; total NOI rose 17.7% and same-store cash NOI grew 10.6%, led by SHOP.
FY26 Normalized FFO guidance increased to $3.87–$3.90 per share; $5.2B of senior housing investments had closed year to date.
Net debt to Further Adjusted EBITDA improved to 4.4x, with $4.5B of available liquidity at September 30.
Financial highlights
Q3 revenue was $1.832B versus $1.489B YoY; net income attributable to common stockholders was $65.4M versus $66.0M.
Nareit FFO per share was $1.01, up 15% YoY; Normalized FFO was $514.2M, or $0.99 per share, up 24% and 10%, respectively.
Nine-month Normalized FFO was $1.454B versus $1.210B; operating cash flow increased 22.6% to $1.441B.
Outlook and guidance
FY26 guidance: attributable net income of $0.64–$0.67/share, Nareit FFO of $3.83–$3.86/share, and Normalized FFO of $3.87–$3.90/share, implying 9%–10% YoY growth.
Normalized FFO guidance midpoint rose $0.01/share, reflecting $0.02 from investment activity, partly offset by $0.01 from higher rates and FX.
Same-store cash NOI guidance was reaffirmed across segments; SHOP guidance remained 15%–17%.
Guidance assumes $5.2B of YTD investments, $700M of dispositions and loan repayments at a 7% blended yield, and $400M of FAD capital expenditures at midpoint.
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Latest events from Ventas
- Q2 2026 delivered double-digit SHOP NOI growth, higher guidance, and strong liquidity.VTR
Q2 2026 - Senior housing growth accelerates, with raised 2026 guidance and strong financial performance.VTRInvestor presentation
- All board proposals passed, with no shareholder questions or additional proposals.VTRAGM 2026
- Secular demand, platform scale, and acquisitions drive multi-year NOI and value creation.VTR47th Annual Raymond James Institutional Investor Conference
- Double-digit SHOP growth, $5.5B liquidity, and $3B investment guidance highlight Q1 momentum.VTRQ1 2026
- Double-digit SHOP NOI and FFO growth in 2025 set up a strong 2026 outlook.VTRQ4 2025
- Senior housing demand, SHOP growth, and targeted investments drive robust multiyear performance.VTRBofA Securities 2025 Global Real Estate Conference
- Q2 2025 delivered 9% FFO growth, raised guidance, and strong SHOP and investment momentum.VTRQ2 2025
- Double-digit SHOP growth, raised investment guidance, and improved profitability in Q1 2025.VTRQ1 2025
Next Ventas earnings date
Q4 20265 Feb, 2027
Ventas
Next Ventas earnings date
Q4 20265 Feb, 2027
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Frequently asked questions
Ventas is a leading healthcare real estate investment trust, or REIT, with ownership interests in 169 healthcare properties. The company's operating strategy focuses on acquiring real estate that can be readily repositioned to take advantage of existing or anticipated healthcare spending growth through acquisitions, management contracts and direct property ownership. As a result, Ventas has a diverse portfolio consisting of senior housing, long-term acute care hospitals, medical office buildings and ambulatory surgical centers. With a seasoned management team and deep experience in real estate and healthcare, the company is well-positioned to take advantage of industry tailwinds in the years ahead.