Ventas Inc. (VTR, Financial) filed Quarterly Report for the period ended 2009-09-30.
Ventas Inc. is a healthcare real estate investment trust. Ventas Inc. has a market cap of $6.38 billion; its shares were traded at around $40.73 with a P/E ratio of 15.3 and P/S ratio of 6.8. The dividend yield of Ventas Inc. stocks is 5.1%. Ventas Inc. had an annual average earning growth of 15.3% over the past 5 years.
During the nine months ended September 30, 2009, we purchased in open market transactions and/or through cash tender offers $361.6 million of our senior notes composed of: $121.6 million principal amount of our outstanding 6 3/4% senior notes due 2010, $109.4 million principal amount of our outstanding 9% senior notes due 2012, $103.3 million principal amount of our outstanding 6 5/8% senior notes due 2014 and $27.3 million principal amount of our outstanding 7 1/8% senior notes due 2015. We recognized a net loss on extinguishment of debt of $0 and $6.1 million for the three and nine months ended September 30, 2009, respectively, related to these transactions.
On July 31, 2009, CMS issued its final rule updating the prospective payment system for skilled nursing facilities (SNF PPS) for the 2010 fiscal year (October 1, 2009 through September 30, 2010). Under the final rule, the update to the SNF PPS standard federal payment rate for skilled nursing facilities includes a 2.2% increase in the market basket index for the 2010 fiscal year. The final rule also provides a recalibration in the case-mix indexes for the resource utilization groups (RUGs) used to determine the daily payment for beneficiaries in skilled nursing facilities that is expected to reduce payments to skilled nursing facilities by 3.3% in fiscal year 2010. CMS estimates that net payments to skilled nursing facilities as a result of the market basket increase and the recalibration in the case-mix indexes for RUGS under the final rule would decrease by approximately $360 million, or 1.1%, in fiscal year 2010.
Read the The complete ReportVTR is in the portfolios of Ken Heebner of CAPITAL GROWTH MANAGEMENT LP, David Dreman of Dreman Value Management, Chris Davis of Davis Selected Advisers.
Ventas Inc. is a healthcare real estate investment trust. Ventas Inc. has a market cap of $6.38 billion; its shares were traded at around $40.73 with a P/E ratio of 15.3 and P/S ratio of 6.8. The dividend yield of Ventas Inc. stocks is 5.1%. Ventas Inc. had an annual average earning growth of 15.3% over the past 5 years.
Highlight of Business Operations:
As of September 30, 2009, approximately 39.3%, 22.2% and 14.3% 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%, 12.9% and 26.5% of our total revenues and 20.5%, 19.1% and 38.6% of our total net operating income (NOI) (including amounts in discontinued operations) for the nine months ended September 30, 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 75.0% and 12.8%, respectively, of our portfolio, based on the gross book value of real estate investments, as of September 30, 2009.During the nine months ended September 30, 2009, we purchased in open market transactions and/or through cash tender offers $361.6 million of our senior notes composed of: $121.6 million principal amount of our outstanding 6 3/4% senior notes due 2010, $109.4 million principal amount of our outstanding 9% senior notes due 2012, $103.3 million principal amount of our outstanding 6 5/8% senior notes due 2014 and $27.3 million principal amount of our outstanding 7 1/8% senior notes due 2015. We recognized a net loss on extinguishment of debt of $0 and $6.1 million for the three and nine months ended September 30, 2009, respectively, related to these transactions.
On July 31, 2009, CMS issued its final rule updating the prospective payment system for skilled nursing facilities (SNF PPS) for the 2010 fiscal year (October 1, 2009 through September 30, 2010). Under the final rule, the update to the SNF PPS standard federal payment rate for skilled nursing facilities includes a 2.2% increase in the market basket index for the 2010 fiscal year. The final rule also provides a recalibration in the case-mix indexes for the resource utilization groups (RUGs) used to determine the daily payment for beneficiaries in skilled nursing facilities that is expected to reduce payments to skilled nursing facilities by 3.3% in fiscal year 2010. CMS estimates that net payments to skilled nursing facilities as a result of the market basket increase and the recalibration in the case-mix indexes for RUGS under the final rule would decrease by approximately $360 million, or 1.1%, in fiscal year 2010.
Read the The complete ReportVTR is in the portfolios of Ken Heebner of CAPITAL GROWTH MANAGEMENT LP, David Dreman of Dreman Value Management, Chris Davis of Davis Selected Advisers.
