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Ventas (VTR) Secures Finance for Ardent's Acquisition of LHP
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Ventas, Inc. (VTR - Free Report) , the Chicago, IL-based healthcare real estate investment trust (“REIT”) completed the secured debt financing of $700 million for its subsidiary Ardent Health Services’ acquisition of LHP Hospital Group, Inc. With this transaction, Ardent became the country’s second largest private, for-profit hospital operator, with 19 hospitals and related sites of care in six states and $3 billion in annual revenues.
To complete this purchase, parent company Ventas provided a five-year LIBOR-based loan. Also, Ardent received a considerable equity contribution from its majority owner, an affiliate of Equity Group Investments (“EGI”). Ventas also contributed equity to maintain its 9.9% equity stake in Ardent.
Ventas is engaged in the acquisition and ownership of seniors housing and healthcare properties, and leasing them to unaffiliated tenants or operating them through independent third-party managers. In February, Ventas reported fourth-quarter 2016 normalized funds from operations (“FFO”) of $1.03 per share, in line with the Zacks Consensus Estimate. The bottom-line figure for the prior-year quarter was also $1.03.
Currently, Ventas carries a Zacks Rank #4 (Sell).
Shares of Ventas underperformed the Zacks categorized REIT and Equity Trust - Other industry over the past three months. During that time frame, shares of the company increased 1.7%, whereas the industry gained 2.1%.
In the last 30 days, Global Net Lease’s funds from operations (FFO) per share for first-quarter 2017 escalated 11.1% to 60 cents.
In the last 30 days, CoreSite Realty’s FFO per share for first-quarter 2017 increased 5% to $1.06.
CorEnergy Infrastructure Trust’s first-quarter 2017 FFO per share estimates moved up 4.7% to $1.12, in the last 30 days.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
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Ventas (VTR) Secures Finance for Ardent's Acquisition of LHP
Ventas, Inc. (VTR - Free Report) , the Chicago, IL-based healthcare real estate investment trust (“REIT”) completed the secured debt financing of $700 million for its subsidiary Ardent Health Services’ acquisition of LHP Hospital Group, Inc. With this transaction, Ardent became the country’s second largest private, for-profit hospital operator, with 19 hospitals and related sites of care in six states and $3 billion in annual revenues.
To complete this purchase, parent company Ventas provided a five-year LIBOR-based loan. Also, Ardent received a considerable equity contribution from its majority owner, an affiliate of Equity Group Investments (“EGI”). Ventas also contributed equity to maintain its 9.9% equity stake in Ardent.
Ventas is engaged in the acquisition and ownership of seniors housing and healthcare properties, and leasing them to unaffiliated tenants or operating them through independent third-party managers. In February, Ventas reported fourth-quarter 2016 normalized funds from operations (“FFO”) of $1.03 per share, in line with the Zacks Consensus Estimate. The bottom-line figure for the prior-year quarter was also $1.03.
Currently, Ventas carries a Zacks Rank #4 (Sell).
Shares of Ventas underperformed the Zacks categorized REIT and Equity Trust - Other industry over the past three months. During that time frame, shares of the company increased 1.7%, whereas the industry gained 2.1%.
Investors interested in the REIT sector, may consider stocks like Global Net Lease, Inc. (GNL - Free Report) , CoreSite Realty Corp. (COR - Free Report) and CorEnergy Infrastructure Trust, Inc. . All these stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.
In the last 30 days, Global Net Lease’s funds from operations (FFO) per share for first-quarter 2017 escalated 11.1% to 60 cents.
In the last 30 days, CoreSite Realty’s FFO per share for first-quarter 2017 increased 5% to $1.06.
CorEnergy Infrastructure Trust’s first-quarter 2017 FFO per share estimates moved up 4.7% to $1.12, in the last 30 days.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
One has driven from 0 to a $68 billion valuation in 8 years. Four others are a little less obvious but already show jaw-dropping growth. Download this IPO Watch List today for free >>