CHICAGO – CHICAGO (AP) _ Ventas Inc. (VTR) on Friday reported a key measure of profitability in its second quarter. The results surpassed Wall Street expectations.
The real estate investment trust, based in Chicago, said it had funds from operations of $387.2 million, or $1.08 per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of $1.02 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 $166.5 million, or 46 cents per share.
The seniors housing real estate investment trust posted revenue of $942.3 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $918.7 million.
Ventas expects full-year funds from operations in the range of $4.02 to $4.07 per share.
The company's shares have decreased 4.5 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 6 percent.
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