Ventas Q1 Normalized FFO $0.94 (+9% YoY); raises FY investment outlook to $3B

Ventas, Inc.

2026-Q1 EPS reported $0.11 revenue$1,656,944,000

Attributable Net Income $0.11 per share; Normalized FFO $0.94 per share (+9% YoY).
Total Company Same-Store Cash NOI up 9%; SHOP same-store cash NOI up >15% YoY.
SHOP occupancy gained 310 bps; RevPOR up 5%; same-store cash operating revenue ~9%.
Closed $1.7B senior housing YTD; 2026 investment target raised to $3B.
Raised full-year guidance; $1.6B unsettled equity forwards; settled 10.6M shares for $0.8B in Q1.

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