SCOTTSDALE, Ariz. (AP) _ Healthcare Trust of America Inc. (HTA) on Wednesday reported a key measure of profitability in its fourth quarter. The results topped Wall Street expectations.
The Scottsdale, Arizona-based real estate investment trust said it had funds from operations of $60.9 million, or 42 cents per share, in the period.
The average estimate of nine 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 $16.6 million, or 11 cents per share.
The medical office building real estate investment trust posted revenue of $122 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $118.5 million.
For the year, the company reported funds from operations of $225.2 million, or $1.61 per share. Revenue was reported as $460.9 million.
The company's shares have increased 3.5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $30.12, a rise of 13 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HTA at https://www.zacks.com/ap/HTA
Keywords: Healthcare Trust of America, Earnings Report