Medical Properties: 3Q Earnings Snapshot
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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.
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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.
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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.
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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