Ventas (VTR) cuts dividend 43% on senior housing woes.

Ventas, Inc. (VTR) declared a second quarter dividend of $0.45/share, representing a 43% decrease from the previous dividend rate of $$0.7925.  In its press release, the company cited continued pressure on occupancy within its senior housing operating portfolio (SHOP) as well as elevated operating costs, both due to COVID-19.

Ventas is a member of the S&P 500 and has a total market capitalization of approximately $24.4 billion.