MURFREESBORO, Tenn. (AP) _ National Health Investors Inc. (NHI) on Monday reported a key measure of profitability in its first quarter.
The real estate investment trust, based in Murfreesboro, Tennessee, said it had funds from operations of $57.7 million, or $1.36 per share, in the period.
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 $61 million, or $1.37 per share.
The health care real estate investment trust posted revenue of $83.1 million in the period.
The company's shares have dropped 36% since the beginning of the year. The stock has fallen 32% in the last 12 months.