KANSAS CITY, Mo. – KANSAS CITY, Mo. (AP) _ EPR Properties (EPR) on Tuesday reported a key measure of profitability in its first quarter. The results surpassed Wall Street expectations.
The real estate investment trust, based in Kansas City, Missouri, said it had funds from operations of $94 million, or $1.26 per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of $1.24 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 $23.5 million, or 32 cents per share.
The real estate investment trust posted revenue of $155 million in the period. Its adjusted revenue was $132.9 million, which also topped Street forecasts. Three analysts surveyed by Zacks expected $126.7 million.
EPR Properties expects full-year funds from operations in the range of $5.75 to $5.90 per share.
The company's shares have fallen 12 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $57.66, a decrease of 18 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on EPR at https://www.zacks.com/ap/EPR