MURFREESBORO, Tenn. (AP) _ National Health Investors Inc. (NHI) on Monday reported a key measure of profitability in its third quarter. The results missed Wall Street expectations.
The real estate investment trust, based in Murfreesboro, Tennessee, said it had funds from operations of $63.2 million, or $1.42 per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of $1.43 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 $42.6 million, or 95 cents per share.
The health care real estate investment trust posted revenue of $84.3 million in the period, which beat Street forecasts. Four analysts surveyed by Zacks expected $82.6 million.
The company’s shares have declined 23% since the beginning of the year. In the final minutes of trading on Monday, shares hit $63.12, a decline of 22% 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