Ventas, Inc. Files 2024 10-K Annual Report

TL;DR

Ventas 2024 10-K is in! Full financials for the REIT are out.

AI Summary

Ventas, Inc. filed its 2024 10-K on February 13, 2025, reporting its financial performance for the fiscal year ending December 31, 2024. The company, a real estate investment trust, operates in the healthcare real estate sector. Key financial details and operational segments for 2024 are presented in this annual report.

Why It Matters

This filing provides investors with a comprehensive overview of Ventas's financial health, strategic direction, and operational performance for the past fiscal year, crucial for investment decisions.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not inherently indicate new or elevated risks.

Key Numbers

• 437,139,980 — Total Assets (Reported for the fiscal year 2024.)

Key Players & Entities

• Ventas, Inc. (company) — Filer of the 10-K
• 2024-12-31 (date) — Fiscal year end
• 2025-02-13 (date) — Filing date
• 6798 (number) — Standard Industrial Classification for Real Estate Investment Trusts

FAQ

Key Financial Figures

• $0.25 — on Which Registered VTR Common Stock, $0.25 par value New York Stock Exchange Ind
• $51.26 — a closing price of the common stock of $51.26 as reported on the New York Stock Excha

Filing Documents

• vtr-20241231.htm (10-K) — 3957KB
• vtr-ex427_123124.htm (EX-4.27) — 14KB
• vtr-ex19_123124.htm (EX-19) — 54KB
• vtr-ex21_123124.htm (EX-21) — 1251KB
• vtr-ex22_123124.htm (EX-22) — 14KB
• vtr-ex23_123124.htm (EX-23) — 7KB
• vtr-ex311_123124.htm (EX-31.1) — 8KB
• vtr-ex312_123124.htm (EX-31.2) — 8KB
• vtr-ex321_123124.htm (EX-32.1) — 5KB
• vtr-ex322_123124.htm (EX-32.2) — 5KB
• vtr-20241231_g1.jpg (GRAPHIC) — 175KB
• 0000740260-25-000052.txt ( ) — 20449KB
• vtr-20241231.xsd (EX-101.SCH) — 126KB
• vtr-20241231_cal.xml (EX-101.CAL) — 119KB
• vtr-20241231_def.xml (EX-101.DEF) — 694KB
• vtr-20241231_lab.xml (EX-101.LAB) — 1282KB
• vtr-20241231_pre.xml (EX-101.PRE) — 1025KB
• vtr-20241231_htm.xml (XML) — 3066KB

Forward-Looking Statements

Forward-Looking Statements This Annual Report includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These forward-looking statements include, among others, statements of expectations, beliefs, future plans and strategies, anticipated results from operations and developments and other matters that are not historical facts. Forward-looking statements include, among others, statements regarding our and our officers' intent, belief or expectation as identified by the use of phrases or words such as "assume," "may," "will," "project," "expect," "believe," "intend," "anticipate," "seek," "target," "forecast," "plan," "potential," "opportunity," "estimate," "could," "would," "should," "line of sight," "outlook" and other comparable and derivative terms or the negatives thereof. Forward-looking statements are based on management's beliefs as well as on a number of assumptions concerning future events. You should not put undue reliance on these forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors that could cause actual events or results to differ materially from those expressed or implied by the forward-looking statements. We do not undertake a duty to update these forward-looking statements, which speak only as of the date on which they are made. We urge you to carefully review the disclosures we make concerning risks and uncertainties that may affect our business and future financial performance, including those made below under "Summary Risk Factors" and in "Item 1A, Risk Factors" of this Annual Report. i Summary Risk Factors Our business is subject to significant risks and uncertainties that make an investment in us speculative and risky. Below we summarize what we believe are the principal risk factors, but these ri

Risk Factors

Item 1A. Risk Factors 13

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 35

Cybersecurity

Item 1C. Cybersecurity 36

Properties

Item 2. Properties 37

Legal Proceedings

Item 3. Legal Proceedings 39

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 39 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 40

[Reserved]

Item 6. [Reserved] 41

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 42

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 70

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 71

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 128

Controls and Procedures

Item 9A. Controls and Procedures 128

Other Information

Item 9B. Other Information 128

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 128 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 129

Executive Compensation

Item 11. Executive Compensation 129

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 129

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 129

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 129 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 130

Form 10-K Summary

Item 16. Form 10-K Summary 137 iv PART I

BUSINESS

BUSINESS Overview Ventas, Inc., an S&P 500 company, is a real estate investment trust ("REIT") focused on delivering strong, sustainable shareholder returns by enabling exceptional environments that benefit a large and growing aging population. We hold a portfolio that includes senior housing communities, outpatient medical buildings, research centers, hospitals and healthcare facilities located in North America and the United Kingdom. As of December 31, 2024, we owned or had investments in 1,387 properties consisting of 1,356 properties in our reportable business segments ("Segment Properties") and 31 properties held by unconsolidated real estate entities in our non-segment operations. Our Company is headquartered in Chicago, Illinois with additional corporate offices in Louisville, Kentucky and New York, New York. We elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code (the "Code"), commencing with our taxable year ended December 31, 1999. Provided we qualify for taxation as a REIT, we generally are not required to pay U.S. federal corporate income taxes on our REIT taxable income that is currently distributed to our stockholders. In order to maintain our qualification as a REIT, we must satisfy a number of technical requirements, which impact how we invest in, operate and manage our assets. See "Risk Factors—Our REIT Status Risks" included in Part I, Item 1A of this Annual Report on Form 10-K (the "Annual Report"). We operate through three reportable business segments: senior housing operating portfolio, which we refer to as "SHOP," outpatient medical and research portfolio, which we refer to as "OM&R," and triple-net leased properties, which we refer to as "NNN." We also hold assets outside of our reportable business segments, which we refer to as non-segment assets and which consist primarily of corporate assets, including cash and cash equivalents, restricted cash, loans receivable and investments and accounts recei

View Full Filing

View this 10-K filing on SEC EDGAR