Ventas, Inc. (NYSE: VTR) (“Ventas” or the “Company”) announced last week its preliminary normalized Funds From Operations (“FFO”) results for the year ended December 31, 2009. The results were referenced by Chairman, President and Chief Executive Officer Debra A. Cafaro at the Jefferies 2010 Global Healthcare Services Conference in New York. The Company said it expects to report 2009 normalized FFO in the range of $2.67 to $2.68 per diluted share, exceeding the Company’s previously announced guidance range of $2.62 to $2.65 per diluted share. Ventas expects Net Operating Income after management fees (“NOI”) for the Company’s 79 communities that are managed by Sunrise Senior Living, Inc. (NYSE: SRZ)to be $130 million to $131 million for 2009, exceeding the Company’s prior NOI guidance of $122 million to $129 million.
“Our diversified portfolio of high-quality healthcare and seniors housing assets delivered excellent cash flows during 2009, and occupancies in our 79 communities managed by Sunrise continued to trend positively during the fourth quarter,” Ventas Chairman, President and Chief Executive Officer Debra A. Cafaro said. “At year end, Ventas had strong liquidity and cash on hand, a great balance sheet and a hard-working team committed to delivering value to our stakeholders. We are well positioned as we begin a new year and a new decade.”