Senior Housing Properties: 1Q Earnings Snapshot
{{#rendered}} {{/rendered}}
NEWTON, Mass. (AP) _ Senior Housing Properties Trust (SNH) on Wednesday reported a key measure of profitability in its first quarter. The results matched Wall Street expectations.
The Newton, Massachusetts-based real estate investment trust said it had funds from operations of $107.2 million, or 45 cents per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 45 cents per share.
{{#rendered}} {{/rendered}}
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 $236 million, or 99 cents per share.
The residential care real estate investment trust posted revenue of $275.8 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $272.4 million.
{{#rendered}} {{/rendered}}
The company's shares have dropped 15 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.21, a decrease of 21 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 SNH at https://www.zacks.com/ap/SNH