Intrinsic value of Ventas - VTR

Previous Close

$71.72

  Intrinsic Value

$6.82

stock screener

  Rating & Target

str. sell

-90%

  Value-price divergence*

+8%

Previous close

$71.72

 
Intrinsic value

$6.82

 
Up/down potential

-90%

 
Rating

str. sell

 
Value-price divergence*

+8%

Our model is not good at valuating stocks of financial companies, such as VTR.

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of VTR stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 25.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  4.81
  4.20
  4.28
  4.35
  4.42
  4.48
  4.53
  4.57
  4.62
  4.66
  4.69
  4.72
  4.75
  4.77
  4.80
  4.82
  4.84
  4.85
  4.87
  4.88
  4.89
  4.90
  4.91
  4.92
  4.93
  4.94
  4.94
  4.95
  4.95
  4.96
  4.96
Revenue, $m
  3,444
  3,589
  3,742
  3,905
  4,078
  4,260
  4,453
  4,657
  4,872
  5,098
  5,338
  5,590
  5,855
  6,135
  6,429
  6,738
  7,064
  7,407
  7,768
  8,147
  8,545
  8,964
  9,404
  9,867
  10,354
  10,865
  11,402
  11,966
  12,559
  13,181
  13,835
Variable operating expenses, $m
 
  2,780
  2,895
  3,017
  3,145
  3,281
  3,425
  3,577
  3,738
  3,907
  4,085
  4,170
  4,368
  4,576
  4,796
  5,027
  5,270
  5,526
  5,795
  6,077
  6,375
  6,687
  7,016
  7,361
  7,724
  8,105
  8,506
  8,927
  9,369
  9,833
  10,321
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  2,495
  2,780
  2,895
  3,017
  3,145
  3,281
  3,425
  3,577
  3,738
  3,907
  4,085
  4,170
  4,368
  4,576
  4,796
  5,027
  5,270
  5,526
  5,795
  6,077
  6,375
  6,687
  7,016
  7,361
  7,724
  8,105
  8,506
  8,927
  9,369
  9,833
  10,321
Operating income, $m
  948
  808
  847
  889
  932
  979
  1,028
  1,079
  1,134
  1,192
  1,252
  1,420
  1,487
  1,558
  1,633
  1,712
  1,794
  1,881
  1,973
  2,069
  2,170
  2,277
  2,389
  2,506
  2,630
  2,760
  2,896
  3,039
  3,190
  3,348
  3,514
EBITDA, $m
  1,847
  1,803
  1,880
  1,962
  2,049
  2,140
  2,237
  2,340
  2,448
  2,562
  2,682
  2,808
  2,942
  3,082
  3,230
  3,386
  3,549
  3,721
  3,903
  4,093
  4,293
  4,504
  4,725
  4,957
  5,202
  5,459
  5,728
  6,012
  6,310
  6,622
  6,951
Interest expense (income), $m
  395
  389
  407
  426
  447
  469
  492
  516
  542
  569
  598
  628
  660
  694
  730
  767
  806
  847
  891
  937
  985
  1,035
  1,088
  1,144
  1,203
  1,264
  1,329
  1,397
  1,469
  1,544
  1,623
Earnings before tax, $m
  523
  419
  440
  462
  486
  510
  536
  563
  592
  622
  654
  791
  827
  864
  903
  945
  988
  1,034
  1,082
  1,133
  1,186
  1,242
  1,300
  1,362
  1,427
  1,495
  1,567
  1,642
  1,721
  1,804
  1,891
Tax expense, $m
  -31
  113
  119
  125
  131
  138
  145
  152
  160
  168
  177
  214
  223
  233
  244
  255
  267
  279
  292
  306
  320
  335
  351
  368
  385
  404
  423
  443
  465
  487
  511
Net income, $m
  649
  306
  322
  338
  354
  372
  391
  411
  432
  454
  478
  578
  604
  631
  659
  690
  721
  755
  790
  827
  866
  906
  949
  994
  1,042
  1,091
  1,144
  1,199
  1,256
  1,317
  1,381

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  287
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  23,167
  23,766
  24,783
  25,862
  27,004
  28,212
  29,490
  30,839
  32,263
  33,765
  35,348
  37,017
  38,775
  40,626
  42,575
  44,626
  46,784
  49,053
  51,441
  53,951
  56,590
  59,365
  62,281
  65,346
  68,567
  71,951
  75,508
  79,244
  83,169
  87,293
  91,625
Adjusted assets (=assets-cash), $m
  22,880
  23,766
  24,783
  25,862
  27,004
  28,212
  29,490
  30,839
  32,263
  33,765
  35,348
  37,017
  38,775
  40,626
  42,575
  44,626
  46,784
  49,053
  51,441
  53,951
  56,590
  59,365
  62,281
  65,346
  68,567
  71,951
  75,508
  79,244
  83,169
  87,293
  91,625
Revenue / Adjusted assets
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
Average production assets, $m
  20,021
  20,861
  21,754
  22,700
  23,703
  24,764
  25,885
  27,069
  28,319
  29,637
  31,027
  32,492
  34,035
  35,660
  37,371
  39,171
  41,065
  43,057
  45,153
  47,356
  49,673
  52,108
  54,668
  57,358
  60,185
  63,156
  66,278
  69,557
  73,003
  76,622
  80,425
Working capital, $m
  0
  -298
  -311
  -324
  -338
  -354
  -370
  -387
  -404
  -423
  -443
  -464
  -486
  -509
  -534
  -559
  -586
  -615
  -645
  -676
  -709
  -744
  -781
  -819
  -859
  -902
  -946
  -993
  -1,042
  -1,094
  -1,148
Total debt, $m
  11,127
  11,621
  12,177
  12,767
  13,392
  14,053
  14,752
  15,490
  16,269
  17,090
  17,957
  18,869
  19,831
  20,844
  21,909
  23,031
  24,212
  25,453
  26,759
  28,132
  29,576
  31,093
  32,689
  34,365
  36,127
  37,978
  39,924
  41,967
  44,115
  46,370
  48,740
Total liabilities, $m
  12,506
  13,000
  13,556
  14,146
  14,771
  15,432
  16,131
  16,869
  17,648
  18,469
  19,336
  20,248
  21,210
  22,223
  23,288
  24,410
  25,591
  26,832
  28,138
  29,511
  30,955
  32,472
  34,068
  35,744
  37,506
  39,357
  41,303
  43,346
  45,494
  47,749
  50,119
Total equity, $m
  10,661
  10,766
  11,227
  11,715
  12,233
  12,780
  13,359
  13,970
  14,615
  15,295
  16,013
  16,769
  17,565
  18,404
  19,286
  20,215
  21,193
  22,221
  23,303
  24,440
  25,635
  26,892
  28,213
  29,602
  31,061
  32,594
  34,205
  35,897
  37,676
  39,544
  41,506
Total liabilities and equity, $m
  23,167
  23,766
  24,783
  25,861
  27,004
  28,212
  29,490
  30,839
  32,263
  33,764
  35,349
  37,017
  38,775
  40,627
  42,574
  44,625
  46,784
  49,053
  51,441
  53,951
  56,590
  59,364
  62,281
  65,346
  68,567
  71,951
  75,508
  79,243
  83,170
  87,293
  91,625
Debt-to-equity ratio
  1.044
  1.080
  1.080
  1.090
  1.090
  1.100
  1.100
  1.110
  1.110
  1.120
  1.120
  1.130
  1.130
  1.130
  1.140
  1.140
  1.140
  1.150
  1.150
  1.150
  1.150
  1.160
  1.160
  1.160
  1.160
  1.170
  1.170
  1.170
  1.170
  1.170
  1.170
Adjusted equity ratio
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  649
  306
  322
  338
  354
  372
  391
  411
  432
  454
  478
  578
  604
  631
  659
  690
  721
  755
  790
  827
  866
  906
  949
  994
  1,042
  1,091
  1,144
  1,199
  1,256
  1,317
  1,381
Depreciation, amort., depletion, $m
  899
  995
  1,033
  1,073
  1,116
  1,162
  1,209
  1,260
  1,314
  1,370
  1,429
  1,389
  1,455
  1,524
  1,597
  1,674
  1,755
  1,840
  1,930
  2,024
  2,123
  2,227
  2,336
  2,451
  2,572
  2,699
  2,832
  2,973
  3,120
  3,274
  3,437
Funds from operations, $m
  1,332
  1,300
  1,354
  1,411
  1,471
  1,534
  1,601
  1,671
  1,746
  1,824
  1,907
  1,966
  2,058
  2,155
  2,256
  2,364
  2,476
  2,595
  2,719
  2,851
  2,988
  3,133
  3,286
  3,446
  3,614
  3,790
  3,976
  4,171
  4,376
  4,591
  4,817
Change in working capital, $m
  -35
  -12
  -13
  -14
  -14
  -15
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -26
  -27
  -28
  -30
  -31
  -33
  -35
  -37
  -38
  -40
  -42
  -45
  -47
  -49
  -52
  -54
Cash from operations, $m
  1,367
  1,695
  1,367
  1,424
  1,485
  1,549
  1,617
  1,688
  1,763
  1,843
  1,927
  1,987
  2,080
  2,178
  2,281
  2,389
  2,503
  2,623
  2,749
  2,882
  3,021
  3,168
  3,322
  3,484
  3,654
  3,833
  4,021
  4,218
  4,425
  4,643
  4,872
Maintenance CAPEX, $m
  0
  -856
  -891
  -930
  -970
  -1,013
  -1,058
  -1,106
  -1,157
  -1,210
  -1,267
  -1,326
  -1,389
  -1,455
  -1,524
  -1,597
  -1,674
  -1,755
  -1,840
  -1,930
  -2,024
  -2,123
  -2,227
  -2,336
  -2,451
  -2,572
  -2,699
  -2,832
  -2,973
  -3,120
  -3,274
New CAPEX, $m
  -261
  -840
  -893
  -947
  -1,003
  -1,061
  -1,121
  -1,184
  -1,250
  -1,318
  -1,390
  -1,465
  -1,543
  -1,625
  -1,710
  -1,800
  -1,894
  -1,992
  -2,095
  -2,203
  -2,317
  -2,435
  -2,560
  -2,690
  -2,827
  -2,971
  -3,122
  -3,280
  -3,446
  -3,620
  -3,802
Cash from investing activities, $m
  -1,235
  -1,696
  -1,784
  -1,877
  -1,973
  -2,074
  -2,179
  -2,290
  -2,407
  -2,528
  -2,657
  -2,791
  -2,932
  -3,080
  -3,234
  -3,397
  -3,568
  -3,747
  -3,935
  -4,133
  -4,341
  -4,558
  -4,787
  -5,026
  -5,278
  -5,543
  -5,821
  -6,112
  -6,419
  -6,740
  -7,076
Free cash flow, $m
  132
  -1
  -417
  -452
  -488
  -525
  -563
  -602
  -643
  -686
  -730
  -804
  -852
  -901
  -954
  -1,008
  -1,065
  -1,124
  -1,186
  -1,251
  -1,319
  -1,390
  -1,465
  -1,543
  -1,624
  -1,710
  -1,800
  -1,894
  -1,993
  -2,096
  -2,205
Issuance/(repayment) of debt, $m
  -165
  494
  556
  590
  625
  661
  699
  738
  779
  822
  866
  913
  962
  1,013
  1,066
  1,122
  1,180
  1,242
  1,306
  1,373
  1,444
  1,518
  1,595
  1,677
  1,762
  1,851
  1,945
  2,044
  2,147
  2,256
  2,369
Issuance/(repurchase) of shares, $m
  1,287
  0
  321
  351
  380
  411
  443
  475
  509
  545
  581
  647
  686
  727
  770
  815
  862
  911
  962
  1,015
  1,071
  1,129
  1,190
  1,254
  1,322
  1,392
  1,466
  1,543
  1,624
  1,709
  1,798
Cash from financing (excl. dividends), $m  
  1,127
  494
  877
  941
  1,005
  1,072
  1,142
  1,213
  1,288
  1,367
  1,447
  1,560
  1,648
  1,740
  1,836
  1,937
  2,042
  2,153
  2,268
  2,388
  2,515
  2,647
  2,785
  2,931
  3,084
  3,243
  3,411
  3,587
  3,771
  3,965
  4,167
Total cash flow (excl. dividends), $m
  1,259
  493
  139
  138
  137
  136
  136
  136
  136
  136
  136
  109
  110
  111
  112
  114
  116
  118
  120
  122
  125
  128
  131
  134
  138
  141
  145
  150
  154
  159
  165
Retained Cash Flow (-), $m
  -900
  -392
  -461
  -489
  -517
  -547
  -579
  -611
  -645
  -680
  -717
  -756
  -796
  -839
  -883
  -929
  -977
  -1,028
  -1,081
  -1,137
  -1,196
  -1,257
  -1,321
  -1,388
  -1,459
  -1,533
  -1,611
  -1,693
  -1,778
  -1,868
  -1,962
Prev. year cash balance distribution, $m
 
  287
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  388
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Discount rate, %
 
  8.60
  9.03
  9.48
  9.96
  10.45
  10.98
  11.52
  12.10
  12.71
  13.34
  14.01
  14.71
  15.44
  16.22
  17.03
  17.88
  18.77
  19.71
  20.70
  21.73
  22.82
  23.96
  25.16
  26.42
  27.74
  29.12
  30.58
  32.11
  33.71
  35.40
PV of cash for distribution, $m
 
  357
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  100.0
  98.8
  97.5
  96.2
  94.8
  93.5
  92.1
  90.7
  89.3
  87.9
  86.4
  84.9
  83.5
  82.0
  80.6
  79.2
  77.8
  76.4
  75.0
  73.6
  72.3
  71.0
  69.7
  68.4
  67.1
  65.9
  64.6
  63.4
  62.2
  61.1

Ventas, Inc. is a publicly owned real estate investment trust. The firm engages in investment, management, financing, and leasing of properties in the healthcare industry. It invests in the real estate markets of the United States and Canada. The firm primarily invests in healthcare-related facilities including hospitals, skilled nursing facilities, senior housing facilities, medical office buildings, and other healthcare related facilities. Ventas, Inc. was founded in 1983 and is based in Chicago, Illinois with additional offices in Irvine, California; Louisville, Kentucky; Charlotte, North Carolina; and Dallas, Texas.

FINANCIAL RATIOS  of  Ventas (VTR)

Valuation Ratios
P/E Ratio 39.1
Price to Sales 7.4
Price to Book 2.4
Price to Tangible Book
Price to Cash Flow 18.6
Price to Free Cash Flow 23
Growth Rates
Sales Growth Rate 4.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 15%
Cap. Spend. - 3 Yr. Gr. Rate 8.1%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 104.4%
Total Debt to Equity 104.4%
Interest Coverage 2
Management Effectiveness
Return On Assets 4.7%
Ret/ On Assets - 3 Yr. Avg. 4.3%
Return On Total Capital 3%
Ret/ On T. Cap. - 3 Yr. Avg. 2.5%
Return On Equity 6.4%
Return On Equity - 3 Yr. Avg. 5.4%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 58.1%
Gross Margin - 3 Yr. Avg. 57.2%
EBITDA Margin 52.8%
EBITDA Margin - 3 Yr. Avg. 53.5%
Operating Margin 27.6%
Oper. Margin - 3 Yr. Avg. 24.7%
Pre-Tax Margin 15.2%
Pre-Tax Margin - 3 Yr. Avg. 12.8%
Net Profit Margin 18.8%
Net Profit Margin - 3 Yr. Avg. 16.2%
Effective Tax Rate -5.9%
Eff/ Tax Rate - 3 Yr. Avg. -6.5%
Payout Ratio 157.9%

VTR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the VTR stock intrinsic value calculation we used $3444 million for the last fiscal year's total revenue generated by Ventas. The default revenue input number comes from 2016 income statement of Ventas. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our VTR stock valuation model: a) initial revenue growth rate of 4.2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 8.6%, whose default value for VTR is calculated based on our internal credit rating of Ventas, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Ventas.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of VTR stock the variable cost ratio is equal to 77.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for VTR stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Ventas.

Corporate tax rate of 27% is the nominal tax rate for Ventas. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the VTR stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for VTR are equal to 581.3%.

Life of production assets of 23.4 years is the average useful life of capital assets used in Ventas operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for VTR is equal to -8.3%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $10661 million for Ventas - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 352.749 million for Ventas is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Ventas at the current share price and the inputted number of shares is $25.3 billion.

RELATED COMPANIES Price Int.Val. Rating
HCN Welltower 77.43 10.12  str.sell
BKD Brookdale Seni 14.84 1.88  str.sell
NHI National Healt 78.57 7.53  str.sell
DOC Physicians Rea 21.64 3.22  str.sell
CSU Capital Senior 15.71 1.08  str.sell
UHT Universal Heal 79.68 12.83  str.sell
KND Kindred Health 11.10 23.52  str.buy
HLS HealthSouth 48.67 65.86  str.buy
HCP HCP 33.39 2.94  str.sell

COMPANY NEWS

▶ Ventas to Participate in NAREIT REITWeek 2017 Conference   [Jun-06-17 06:57AM  Business Wire]
▶ Better Buy: HCP, Inc. vs. Ventas   [Apr-28-17 03:51PM  Motley Fool]
▶ Ventas reports 1Q results   [07:18AM  Associated Press]
▶ Ventas Reports 2017 First Quarter Results   [07:01AM  Business Wire]
▶ Squirreling Away REIT Dividends   [Apr-10-17 07:00AM  Forbes]
▶ Ventas Announces Pricing of Senior Notes   [Mar-22-17 04:59PM  Business Wire]
▶ [$$] Deal Close Announcements: March 13-17   [Mar-17-17 05:09PM  The Wall Street Journal]
▶ Brookdale's latest suitor denies potential deal   [Mar-06-17 04:05PM  at bizjournals.com]
▶ 4 High-Yielding REITs For Retirement   [Feb-28-17 07:00AM  at Forbes]
▶ 4 REITs To Help You Sleep Well At Night   [Feb-20-17 07:00AM  at Forbes]
▶ [$$] Ventas In Talks to BuyPart or All of BrookdaleSenior Living   [Feb-16-17 04:52PM  at The Wall Street Journal]
▶ New Senior Is A Diamond In The Rough   [Feb-15-17 07:00AM  at Forbes]
▶ 4 REITs For Retirement   [07:00AM  at Forbes]
▶ Better Buy: HCP, Inc. vs. Ventas   [Feb-06-17 04:45PM  at Motley Fool]
▶ 4 Bargain REITs With 5.0% Yields And Big Upside   [Feb-05-17 08:08AM  at Forbes]
▶ Ventas Announces Tax Treatment of 2016 Distributions   [Jan-17-17 07:46PM  Business Wire]
▶ REIT Pivots That Paid Off   [Jan-16-17 07:00AM  at Forbes]
▶ 3 Healthcare REITs to Buy in 2017   [Jan-02-17 07:52AM  at Motley Fool]
▶ 3 Top Stocks for Your IRA   [Dec-28-16 11:52AM  at Motley Fool]
▶ 3 High-Yield Dividend Stocks With Plenty Left To Give   [Dec-24-16 08:14AM  at Forbes]
▶ Is Ventas, Inc. (VTR) A Good Stock To Buy?   [11:16AM  at Insider Monkey]
▶ Ventas Increases Fourth Quarter 2016 Dividend by 6 Percent   [Dec-08-16 07:09PM  Business Wire]
▶ 10 REITs that look like big winners for 2017   [Dec-07-16 04:07PM  at MarketWatch]
▶ 2 Stocks That Could Make You Rich   [Dec-03-16 09:33AM  at Motley Fool]
▶ 9 Good Dividend Stocks to Buy Now   [Nov-16-16 10:00AM  at Kiplinger]
Stock chart of VTR Financial statements of VTR Annual reports of VTR
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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