Cantor Fitzgerald has reaffirmed an Overweight rating and a $93.00 price target on Ventas (NYSE:VTR) after the healthcare real estate investment trust released fourth-quarter 2025 results and a 2026 outlook. The stock was trading at $82.55 at the time of the report, narrowly below its 52-week high of $82.80, and has delivered a 40.08% total return over the past year.
The research note emphasized Ventas’s performance in its Senior Housing Operating Portfolio (SHOP), where the company reported 15% same-store net operating income (NOI) growth during 2025 and issued guidance for the same 15% rate in 2026. Cantor Fitzgerald linked this segment-level momentum to the company’s broader revenue strength, noting overall revenue growth of 18.99% in the trailing twelve months.
Cantor Fitzgerald characterized Ventas’s forward-looking stance as "an effective balance between the present opportunity and the potential for future upside," and suggested the company may be positioned to exceed expectations and raise guidance in upcoming quarters. The note also cited a strong Wall Street consensus, with an aggregate analyst rating of 1.52, reflecting generally favorable sentiment toward the $39.49 billion healthcare REIT.
The SHOP business is central to the thesis: it accounts for 53% of Ventas’s NOI and, according to the firm, is benefiting from demographic tailwinds as the baby-boomer cohort reaches their eighth decade. Cantor Fitzgerald also observed that supply pressure in the segment remains limited, supporting near-term operating leverage.
Dividend continuity and yield were also highlighted. Data from InvestingPro indicate Ventas has paid dividends for 28 consecutive years and currently offers a yield of 2.52%, a point of interest for income-focused investors.
Valuation and prudence
While Cantor Fitzgerald encouraged investors to "ride the SHOP wave," the firm cautioned that double-digit organic growth is unlikely to persist indefinitely. Complementing this caution, InvestingPro’s Fair Value assessment in the referenced data set suggests the stock is trading above its assessed fair value at current levels, a signal that investors should weigh valuation when sizing positions.
Recent operating and financing developments
Ventas posted fourth-quarter 2025 financial results that beat consensus on both the top and bottom lines. The company reported earnings per share of $0.15, versus a forecast of $0.10 - a 50% surprise - and revenue of $1.57 billion compared with an expected $1.5 billion.
On the capital markets front, Ventas amended its at-the-market (ATM) sales agreement to raise the capacity for common stock issuance to $2.5 billion. The amendment names several financial institutions as sales agents and adds M&T Securities, Inc. as a new participant to the program.
Separate analyst movement noted alongside the Cantor Fitzgerald update included Evercore ISI raising its price target on Ventas to $90.00 from $86.00 and maintaining an Outperform rating, citing the SHOP segment’s strong showing.
Takeaway
Cantor Fitzgerald’s reaffirmation of an Overweight view and $93 target rests on durable SHOP performance, notable same-store NOI gains, and a top-line acceleration approaching 19% year-over-year. The firm’s guidance and commentary point to potential upside, but both the firm and InvestingPro data flag valuation and sustainability considerations that investors should monitor.