MURFREESBORO, Tenn. (AP) _ National Health Investors Inc. (NHI) on Friday reported a key measure of profitability in its fourth quarter. The results beat Wall Street expectations.
The Murfreesboro, Tennessee-based real estate investment trust said it had funds from operations of $50.6 million, or $1.27 per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of $1.26 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 $41.2 million, or $1.03 per share.
The health care real estate investment trust posted revenue of $65 million in the period. Its adjusted revenue was $64.7 million.
For the year, the company reported funds from operations of $190.7 million, or $4.87 per share. Revenue was reported as $246.2 million.
National Health Investors expects full-year funds from operations in the range of $5.06 to $5.12 per share.
The company's shares have decreased slightly since the beginning of the year. The stock has climbed 28 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 NHI at https://www.zacks.com/ap/NHI
Keywords: National Health Investors, Earnings Report