Debra A. Cafaro
and good other Welcome XXXX all the of morning our participants. quarter shareholders earnings Ventas and third to to call. BJ Thanks,
our results by our We’re enterprise SHOP and very this pleased growth. with property quarter, led
increase forecast some same-store revenue, Normalized year-over-year year-over-year our growth growth. with XX% with $X.XX, total outstanding in with FFO X% highlights. line SHOP X% begin by right NOI Let’s per share and in was cash company led nearly an
grants comparable normalized last ex year’s HHS $X.XX from X% FFO Our grew period.
sustained this in that again and for. quarter quarter, and have what delivered continue our we senior have been this XX% With in our the to XX% more to SHOP is is quarter, very of year-over-year accelerating. once projected we business waiting pleased growth X% second guidance are that XX% We fourth housing importantly, the that growth in we realize on
the and operators’ supply-demand long-standing we’ve and in and start our take are our of actions driven improving and decisions the commentary the of a by them. that housing, validate recovery I’d at experience, fundamentals this growth period propelled we and, course, opportunity like Justin multiyear credibility team’s and to efforts. accuracy, insights senior numbers to strong taken, thank and Our positive by
ahead interest represents FFO we addition Looking X.X% quarter, of to fourth in and items SHOP XXXX to companies unusual rate other our the estate headwinds QX FX excluding versus the and at experiencing. that real the growth, virtually are material macro, midpoint growth overcoming normalized $X.XX guidance all
allocation. capital to Turning
and of to on focus priorities housing innovation partners. continue our science, senior life and We with research and working select long-time
driving differentiated research are and expanding business. and innovation science life We our investment
progress. XXX,XXX $X.X research life lab in cell a We premier on and it premier projects gene billion foot leading or time is and of we to ecosystem science our delivered shell square in have and recently Philadelphia’s budget therapy core university. new over leased Recently, and XX% R&I committed state-of-the-art and One companies currently in building at and delivered Square, on uCity
the companies our universities, in land significant in part the system and in rated began uCity building have science partner, of our also ratio of open what to a by major is capture produce to space. Wexford, service to demand. XX and X.X% U.S. under-construction and The of a Maryland spend. One The Maryland, in is very to R&D represent of universities positioned are with the We life is demand favorable we meet project anchored nation’s demand half current existing tenancy be continue of square and project top the for R&I in University robust available lab our projected for located consolidated of lab position tenant Recently, it. of own a we they lab stabilized AA+ ranked UMB, of portfolio enhances and additional demonstrate and XXX,XXX yield life proud most well growing foot space, to cash University the new XXXX. research We our portfolio market. Baltimore. in significant of to created market science this which innovators Universities,
billion businesses I real investments unique with partners. our quality to and that the like Notably, we’ve estate wrap built creation Before Investment business seen proven Management, and continue strategic investments VIM $X.X attractive management to success made be with revenue value grow capital of create build or VIM to in up, effective business as over which two core Ventas institutional and valuable an connected in I’d highlight recurring to has also a asset ways, third-party we’ve we’ve to demonstrate stream. valuable AUM. Ventas’ a of our classes is aligned platform, strategy
the intend to our promote to of the strategic earn revenue from per year. this provides shareholders We and leverages first which business, our growing expertise. benefits our We continue $X.XX industry expect VIM fourth quarter and share VIM to public approximating in platform
Ardent, system strategic Second, has our very successful. health $X.X in a investment high-quality been billion
into estate, representing million a investment equity equity valuation four return. In a investment addition agreement have equity a in new to a our in over XX% $XX to to Ardent the time well-performing Recently, sell at EGI we alongside a Ardent investors EGI. stake Zell an real Sam minority entered Ardent OpCo, in
a regulatory As demonstrates guidance. operating the potential our stake. and a not expect Because any in of transaction have owner, XX% importance included we choosing review, remains partnerships creating we Ardent successful gains to the partners. subject to valuable X.X% carefully sell
are to an and asset senior improving. and our in are fundamentals types we Demographic highly all succeed. supply-demand housing believe favorable advantaged fuels demand position we Finally,
turn higher in the has now I’ll of economic interest call companies you in occupancy estate the space are from resilient are to to across rates, that by Justin. upside expansion While over affected like real has power, we, pricing Thank and been business most and a be margin we happy historically environments. and a variety