Senior Housing Properties: 2Q Earnings Snapshot
{{#rendered}} {{/rendered}}NEWTON, Mass. (AP) _ Senior Housing Properties Trust (SNH) on Tuesday reported a key measure of profitability in its second quarter. The results matched Wall Street expectations.
The real estate investment trust, based in Newton, Massachusetts, said it had funds from operations of $104.8 million, or 44 cents per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 44 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 $123.6 million, or 52 cents per share.
The residential care real estate investment trust posted revenue of $277.2 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $277.3 million.
{{#rendered}} {{/rendered}}The company's shares have dropped nearly 4 percent since the beginning of the year. The stock has decreased slightly more than 2 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 SNH at https://www.zacks.com/ap/SNH