MedEquities Realty Trust: 3Q Earnings Snapshot
NASHVILLE, Tenn. – NASHVILLE, Tenn. (AP) _ MedEquities Realty Trust Inc. (MRT) on Friday reported a key measure of profitability in its third quarter. The results fell short of Wall Street expectations.
The real estate investment trust, based in Nashville, Tennessee, said it had funds from operations of $7.1 million, or 22 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 31 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 a loss of $2.1 million, or 7 cents per share.
The real estate investment trust posted revenue of $9.7 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $17.7 million.
MedEquities Realty Trust expects full-year funds from operations in the range of $1 to $1.02 per share.
The company's shares have decreased 22 percent since the beginning of the year. In the final minutes of trading on Friday, shares hit $8.77, a drop of 20 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