SCOTTSDALE, Ariz. – SCOTTSDALE, Ariz. (AP) _ Healthcare Trust of America Inc. (HTA) on Monday reported a key measure of profitability in its first quarter. The results did not meet Wall Street expectations.
The real estate investment trust, based in Scottsdale, Arizona, said it had funds from operations of $85 million, or 41 cents per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 42 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 $9.8 million, or 5 cents per share.
The medical office building real estate investment trust posted revenue of $175.7 million in the period, which topped Street forecasts. Five analysts surveyed by Zacks expected $175.5 million.
The company's shares have fallen 18 percent since the beginning of the year. The stock has dropped 22 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 HTA at https://www.zacks.com/ap/HTA