NASHVILLE, Tenn. (AP) _ Healthcare Realty Trust Inc. (HR) on Wednesday reported a key measure of profitability in its first quarter. The results met Wall Street expectations.
The Nashville, Tennessee-based real estate investment trust said it had funds from operations of $57.9 million, or 41 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 41 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $4.3 million, or 3 cents per share.
The real estate investment trust posted revenue of $124.8 million in the period, exceeding Street forecasts. Four analysts surveyed by Zacks expected $122.5 million.
The company's shares have declined 12% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $29.20, a decline of almost 6% in the last 12 months.