KANSAS CITY, Mo. – KANSAS CITY, Mo. (AP) _ EPR Properties (EPR) on Monday reported a key measure of profitability in its third quarter. The results surpassed Wall Street expectations.
The Kansas City, Missouri-based real estate investment trust said it had funds from operations of $119.6 million, or $1.58 per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $1.35 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 $85.8 million, or $1.15 per share.
The real estate investment trust posted revenue of $176.4 million in the period. Its adjusted revenue was $140.9 million, also topping Street forecasts. Four analysts surveyed by Zacks expected $139.1 million.
EPR Properties expects full-year funds from operations in the range of $6.03 to $6.09 per share.
The company's shares have risen roughly 4 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $67.89, a decrease of nearly 2 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