NASHVILLE, Tenn. – NASHVILLE, Tenn. (AP) _ MedEquities Realty Trust Inc. (MRT) on Thursday reported a key measure of profitability in its first quarter. The results met Wall Street expectations.
The real estate investment trust, based in Nashville, Tennessee, said it had funds from operations of $9.3 million, or 30 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 30 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 $5.2 million, or 16 cents per share.
The real estate investment trust, based in Nashville, Tennessee, posted revenue of $16.7 million in the period.
MedEquities Realty Trust expects full-year funds from operations in the range of $1.18 to $1.22 per share.
The company's shares have dropped slightly more than 6 percent since the beginning of the year. The stock has fallen 12 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 MRT at https://www.zacks.com/ap/MRT