Ventas Inc. (VTR) 2019年年度报告「NYSE」.pdf

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1、2019 ANNUAL REPORTExcellence.Sustained.2 22019 ACCOMPLISHMENTS 2019 ANNUAL REPORT 2019 FINANCIAL ACCOMPLISHMENTS8 YEARS Weighted Average Maturity on Senior Notes4.3x Fixed ChargeCoverage$2.6B Liquidity7%Compound Annual Dividend Increase Since 2001Weighted Average Cost of Debt3.5%Credit RatingBBB+Tot

2、al Shareholder Return in 20193.4%Source:Company Financials for year ending 12/31/2019.Dividend per share growth based on cash dividends paid from the 2001-2019 period,excluding special dividends or share distributions.*Source:Data per 2018 Annual Report1 This Annual Report contains certain non-GAAP

3、financial measures.Reconciliations of each of these non-GAAP financial measures are available on the Companys website at https:/ as of 12/31 of the respective year per Q4 2019/2018 filings,press releases,supplemental and earnings conference calls.2 Source:Bloomberg;for the period beginning 12/31/199

4、9 and ending 12/31/2019.Ventas prices adjusted historically for spin off.Net Income per diluted Common Share$1.17$1.14 Normalized Funds from Operations(FFO)per diluted Common Share$3.85$4.07Reported Funds from Operations (Nareit FFO)per diluted Common Share$3.88$3.64Net Debt to Adjusted Pro Forma EB

5、ITDA6.0 x5.6xSame Store Net Operating Income(NOI)Growth0%1.2%Total Indebtedness to Gross Value38%37%Fixed Charge Coverage4.3x4.6xDividend per Share$3.17$3.163Revenue($Millions)$3,873$3,746Operating Cash Flow($Millions)$1,438$1,381FINANCIAL RESULTS120192018*TOTAL SHAREHOLDER RETURN SINCE 19992VENTAS5

6、,004%732%MSCI US REIT INDEXS&P 500 INDEX224%Commercial Paper Program$1BLaunched 2019 calculated using a full year methodologyLETTER TO STAKEHOLDERS 2019 ANNUAL REPORT3As I write to you,we are facing unprecedented challenges around the world from the novel COVID-19 pandemic.The virus has taken and co