Ventas Raises Quarterly Dividend to $0.52, Reports $2.5B Senior Housing Investments

Ventas Increases Dividend, Reports Strong Senior Housing Performance

Ventas, Inc. (NYSE: VTR) announced on February 5, 2026, that it is raising its quarterly dividend to $0.52 per share and reported completing $2.5 billion in accretive senior housing investments during 2025. The real estate investment trust reported fourth quarter and full year 2025 results that reflect continued momentum in the senior housing sector.

"Ventas delivered strong performance and enterprise growth in the fourth quarter and full year 2025. We executed our strategy to drive organic and external growth in senior housing and increased our participation in this multiyear growth opportunity," said Debra A. Cafaro, Ventas Chairman and CEO.

Senior Housing Investment Strategy Drives Growth

The company's investment activity totaling $2.5 billion in 2025 reflects Ventas' strategic focus on expanding its senior housing operating portfolio. The investments come as the company reported over 15% year-over-year same-store cash net operating income growth in its senior housing operating portfolio for 2025, marking the fourth consecutive year of double-digit growth in this segment.

Cafaro attributed the performance to demographic trends and operational execution. "We capitalized on powerful secular demand trends and utilized our proprietary analytic and operational insights to deliver our fourth consecutive year of double-digit SHOP Same-Store Cash NOI growth. More seniors than ever are choosing to reside in senior housing for the safety, support and socialization benefits it provides," she said.

The company's senior housing operating portfolio showed year-over-year average occupancy growth during the fourth quarter of 2025, contributing to the strong NOI performance. Total Company NOI achieved 15% year-over-year growth in the fourth quarter, while Total Company Same-Store Cash NOI grew 8% year-over-year.

Financial Performance

Ventas reported Normalized Funds From Operations of $0.89 per share for the fourth quarter of 2025, representing a 10% increase compared to the prior year period. For the full year 2025, Normalized FFO reached $3.48 per share, up 9% from $3.19 in 2024.

Net Income Attributable to Common Stockholders was $0.15 per share for the fourth quarter, a 15% increase from $0.13 in the fourth quarter of 2024. Full year 2025 Attributable Net Income reached $0.54 per share, compared to $0.19 in 2024, representing a 184% increase.

Nareit Funds From Operations for the fourth quarter totaled $0.91 per share, up 7% from $0.85 in the prior year period. Full year Nareit FFO reached $3.50 per share, an 11% increase from $3.14 in 2024.

Outlook and Dividend Increase

"We are increasing our quarterly dividend to common stockholders as a result of our strong results and positive outlook. In 2026 and beyond, the Ventas team remains focused on delivering exceptional performance at scale," Cafaro concluded.

The company provided a 2026 outlook alongside its fourth quarter results. The dividend increase and continued investment activity signal management's confidence in sustained demand for senior housing amid demographic tailwinds from an aging population.