Published February 14, 2019
SCOTTSDALE, Ariz. (AP) _ Healthcare Trust of America Inc. (HTA) on Thursday reported a key measure of profitability in its fourth quarter. The results did not meet Wall Street expectations.
The Scottsdale, Arizona-based real estate investment trust said it had funds from operations of $68.3 million, or 40 cents per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 41 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 $15.3 million, or 7 cents per share.
The medical office building real estate investment trust posted revenue of $172.3 million in the period, which also did not meet Street forecasts. Six analysts surveyed by Zacks expected $173 million.
Healthcare Trust of America expects full-year funds from operations in the range of $1.62 to $1.67 per share.
The company's shares have increased 11 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $28.22, an increase of 10 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