BIRMINGHAM, Ala. – BIRMINGHAM, Ala. (AP) _ Medical Properties Trust Inc. (MPW) on Thursday reported a key measure of profitability in its third quarter. The results exceeded Wall Street expectations.
The real estate investment trust, based in Birmingham, Alabama, said it had funds from operations of $127.2 million, or 35 cents per share, in the period.
The average estimate of 10 analysts surveyed by Zacks Investment Research was for funds from operations of 34 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 $736 million, or $2 per share.
The health care real estate investment trust posted revenue of $197 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $196.9 million.
The company's shares have risen nearly 9 percent since the beginning of the year. The stock has increased 13 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 MPW at https://www.zacks.com/ap/MPW