Ventas Inc. (VTR, Financial) filed Quarterly Report for the period ended 2009-03-31.
Ventas Inc. is a healthcare real estate investment trust. Ventas Inc. has a market cap of $4.13 billion; its shares were traded at around $28.76 with a P/E ratio of 10.5 and P/S ratio of 4.4. The dividend yield of Ventas Inc. stocks is 7.1%. Ventas Inc. had an annual average earning growth of 15.3% over the past 5 years.
In May 2009, we completed our cash tender offers for up to $310.0 million aggregate purchase price of the outstanding 6 3/4% senior notes due 2010 (the 2010 Notes), 9% senior notes due 2012 (the 2012 Notes), 6 5/8% senior notes due 2014 (the 2014 Notes) and 7 1/8% senior notes due 2015 (the 2015 Notes) issued by the Issuers. As a result of the tender offers, we repurchased $100.7 million principal amount of 2010 Notes, $104.4 million principal amount of 2012 Notes, $98.1 million principal amount of 2014 Notes and $2.9 million principal amount of 2015 Notes, and we expect to recognize a loss on extinguishment of debt of approximately $7 million in the second quarter of 2009.
On May 1, 2009, the Centers for Medicare & Medicaid Services (CMS) placed on public display, for a projected May 22, 2009 publication, its proposed rule updating the prospective payment system for long-term acute care hospitals (LTAC PPS) for the 2010 fiscal year (October 1, 2009 through September 30, 2010). Under the proposed rule, the update for standard federal payment rates for long-term acute care hospitals would include a 2.4% increase in the hospital market basket index less a 1.8% adjustment for changes in documentation and coding practices related to a patients illness severity. The proposed rule also provides for increases in discharge rates for short stay and high cost outliers. CMS estimates that net payments to long-term acute care hospitals under the proposed rule would increase by approximately $135 million, or 2.8%, in fiscal year 2010.
On May 1, 2009, CMS placed on public display, for a projected May 12, 2009 publication, its proposed rule updating the prospective payment system for skilled nursing facilities (SNF PPS) for the 2010 fiscal year (October 1, 2009 through September 30, 2010). The proposed rule would increase the market basket for Medicare payments to skilled nursing facilities by 2.1% for the 2010 fiscal year. CMS also proposed a recalibration in the case-mix indices for the resource utilization groups (RUGs) used to determine the daily payment for beneficiaries in skilled nursing facilities that would reduce payments to skilled nursing facilities by 3.3% in fiscal year 2010. CMS estimates that these adjustments would result in a decrease in payments to skilled nursing facilities of $390 million, or 1.2%, in fiscal year 2010.
Read the The complete ReportVTR is in the portfolios of Ken Heebner of CAPITAL GROWTH MANAGEMENT LP, Chris Davis of Davis Selected Advisers, David Dreman of Dreman Value Management, David Dreman of Dreman Value Management.
Ventas Inc. is a healthcare real estate investment trust. Ventas Inc. has a market cap of $4.13 billion; its shares were traded at around $28.76 with a P/E ratio of 10.5 and P/S ratio of 4.4. The dividend yield of Ventas Inc. stocks is 7.1%. Ventas Inc. had an annual average earning growth of 15.3% over the past 5 years.
Highlight of Business Operations:
As of March 31, 2009, approximately 38.7%, 22.3% and 14.8% of our properties, based on the gross book value of real estate investments, were managed or operated by Sunrise, Brookdale Senior Living and Kindred, respectively. Approximately 44.5%, 13.0% and 26.3% of our total revenues and 19.6%, 19.4% and 39.1% of our total net operating income (NOI) (including amounts in discontinued operations) for the three months ended March 31, 2009 were attributable to senior living operations managed by Sunrise, our leases with Brookdale Senior Living and our master lease agreements with Kindred (the Kindred Master Leases), respectively. Seniors housing communities and skilled nursing facilities constituted approximately 74.5% and 13.3%, respectively, of our portfolio, based on the gross book value of real estate investments, as of March 31, 2009.In May 2009, we completed our cash tender offers for up to $310.0 million aggregate purchase price of the outstanding 6 3/4% senior notes due 2010 (the 2010 Notes), 9% senior notes due 2012 (the 2012 Notes), 6 5/8% senior notes due 2014 (the 2014 Notes) and 7 1/8% senior notes due 2015 (the 2015 Notes) issued by the Issuers. As a result of the tender offers, we repurchased $100.7 million principal amount of 2010 Notes, $104.4 million principal amount of 2012 Notes, $98.1 million principal amount of 2014 Notes and $2.9 million principal amount of 2015 Notes, and we expect to recognize a loss on extinguishment of debt of approximately $7 million in the second quarter of 2009.
On May 1, 2009, the Centers for Medicare & Medicaid Services (CMS) placed on public display, for a projected May 22, 2009 publication, its proposed rule updating the prospective payment system for long-term acute care hospitals (LTAC PPS) for the 2010 fiscal year (October 1, 2009 through September 30, 2010). Under the proposed rule, the update for standard federal payment rates for long-term acute care hospitals would include a 2.4% increase in the hospital market basket index less a 1.8% adjustment for changes in documentation and coding practices related to a patients illness severity. The proposed rule also provides for increases in discharge rates for short stay and high cost outliers. CMS estimates that net payments to long-term acute care hospitals under the proposed rule would increase by approximately $135 million, or 2.8%, in fiscal year 2010.
On May 1, 2009, CMS placed on public display, for a projected May 12, 2009 publication, its proposed rule updating the prospective payment system for skilled nursing facilities (SNF PPS) for the 2010 fiscal year (October 1, 2009 through September 30, 2010). The proposed rule would increase the market basket for Medicare payments to skilled nursing facilities by 2.1% for the 2010 fiscal year. CMS also proposed a recalibration in the case-mix indices for the resource utilization groups (RUGs) used to determine the daily payment for beneficiaries in skilled nursing facilities that would reduce payments to skilled nursing facilities by 3.3% in fiscal year 2010. CMS estimates that these adjustments would result in a decrease in payments to skilled nursing facilities of $390 million, or 1.2%, in fiscal year 2010.
Read the The complete ReportVTR is in the portfolios of Ken Heebner of CAPITAL GROWTH MANAGEMENT LP, Chris Davis of Davis Selected Advisers, David Dreman of Dreman Value Management, David Dreman of Dreman Value Management.
