CHICAGO – CHICAGO (AP) _ Ventas Inc. (VTR) on Friday reported a key measure of profitability in its first quarter. The results did not meet Wall Street expectations.
The real estate investment trust, based in Chicago, said it had funds from operations of $345.1 million, or 96 cents per share, in the period.
The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of $1.01 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 $78.7 million, or 22 cents per share.
The seniors housing real estate investment trust posted revenue of $943.7 million in the period.
Ventas expects full-year funds from operations in the range of $3.99 to $4.07 per share.
The company's shares have fallen 21 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat.
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on VTR at https://www.zacks.com/ap/VTR