May 8, 2020 / 11:39 AM / 24 days ago

BRIEF-Ventas Reports 2020 Q1 Results And Provides Covid-19 Business Update

May 8 (Reuters) - Ventas Inc:

* VENTAS REPORTS 2020 FIRST QUARTER RESULTS AND PROVIDES COVID-19 BUSINESS UPDATE

* VENTAS INC - QTRLY NORMALIZED FFO $0.97 PER SHARE

* VENTAS INC - QTRLY NAREIT FFO $1.31 PER SHARE

* VENTAS INC - REDUCED ITS PLANNED 2020 CAPITAL EXPENDITURES BY $0.3 BILLION TO APPROXIMATELY $0.5 BILLION

* VENTAS - FOR Q1 2020, REPORTED SAME-STORE TOTAL PROPERTY PORTFOLIO (1,094 ASSETS, REPRESENTING 93% OF COS CASH NOI) DECLINED MODESTLY YOY

* VENTAS - CURRENTLY HAS $3.2 BILLION IN CASH ON HAND, NEGLIGIBLE NEAR-TERM DEBT MATURITIES AND NO PENDING, UNFUNDED OR UNANNOUNCED ACQUISITIONS

* VENTAS - QTRLY NORMALIZED FFO DECLINED MODESTLY COMPARED TO 2019, DRIVEN PRIMARILY BY HIGHER COVID-19 SPECIFIC COSTS IN SHOP SEGMENT

* VENTAS - DESPITE LOWER OCCUPANCY, HIGHER LABOR & SUPPLY COSTS TO COMBAT PANDEMIC EXPECTED TO INCREASE SHOP OPERATING EXPENSES IN APRIL BY ABOUT 10% Source text for Eikon: Further company coverage:

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