Business Segments · NOI
SHOP — NOI
Ventas SHOP — NOI increased by 23.9% to $374.46M in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 41.6%, from $264.50M to $374.46M. This is a positive signal — higher values indicate stronger performance for this metric.
Analysis
StatementSegment
CategoryProfitability
SignalHigher is better
VolatilityModerate
First reportedQ1 2023
Last reportedQ1 2026
How to read this metric
An increase indicates improved operational efficiency or higher occupancy in senior housing, while a decrease suggests rising costs or declining demand.
Detailed definition
Net Operating Income (NOI) generated specifically from the Senior Housing Operating Portfolio (SHOP) segment. This metri...
Peer comparison
Commonly reported by healthcare REITs with operating portfolios; peers often refer to this as 'SHOP NOI' or 'Operating Portfolio NOI'.
Metric ID:
vtr_segment_shop_noiHistorical Data
10 periods
| Q1 '23 | Q2 '23 | Q3 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q3 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Value | $167.77M | $177.50M | $180.70M | $203.48M | $214.24M | $213.98M | $234.68M | $264.50M | $302.30M | $374.46M |
| QoQ Change | — | +5.8% | +1.8% | +12.6% | +5.3% | -0.1% | +9.7% | +12.7% | +14.3% | +23.9% |
| YoY Change | — | — | — | +21.3% | +20.7% | +18.4% | — | +30.0% | +41.3% | +41.6% |
Range$167.77M – $374.46M
CAGR+42.9%
Avg YoY Growth+28.9%
Median YoY Growth+25.6%
Current Streak4 quarters growth
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Frequently Asked Questions
- What is Ventas's shop — noi?
- Ventas (VTR) reported shop — noi of $374.46M in Q1 2026.
- How has Ventas's shop — noi changed year-over-year?
- Ventas's shop — noi increased by 41.6% year-over-year, from $264.50M to $374.46M.
- What does shop — noi mean?
- The profit earned from senior housing properties managed directly by the company.