Ventas Inc. said its second-quarter normalized funds from operations amounted to $1.08 per share, compared to the S&P Capital IQ consensus normalized FFO estimate of $1.01 per share.
Prior-year FFO per share totaled $1.06.
Aggregate normalized FFO totaled $387.2 million, a gain from $379.3 million in the year-earlier period.
Nareit FFO declined 5.4% from the prior-year period to $352.8 million, or 98 cents per share, from $373.0 million, or $1.04 per share.
Nareit is the U.S.-based trade association for REITs and publicly traded real estate companies.
In reporting its results, the company said it expects normalized FFO per share in the range of $4.02 to $4.07 for the full year, compared to previous guidance in the range of $3.99 to $4.07.
The company also forecast Nareit FFO per share in the range of $3.76 to $3.82 for the full year, compared to previous guidance in the range of $3.76 to $3.84.
For the full year, the S&P Capital IQ consensus FFO-per-share estimate is $4.01.
During the quarter, Ventas Realty LP signed a $900 million multi-tranche unsecured term loan facility with Bank of America NA as administrative agent. The facility comprises a $300 million term loan facility maturing in 2023 and a $600 million term loan facility maturing in 2024.
The new facility replaces an existing $900 million facility that was set to mature in 2020.