Ventas: 3Q Earnings Snapshot
{{#rendered}} {{/rendered}}CHICAGO (AP) _ Ventas Inc. (VTR) on Friday reported a key measure of profitability in its third quarter. The results topped Wall Street expectations.
The real estate investment trust, based in Chicago, said it had funds from operations of $354.8 million, or 99 cents per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 97 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 $102 million, or 28 cents per share.
The seniors housing real estate investment trust posted revenue of $936.5 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $904.8 million.
{{#rendered}} {{/rendered}}Ventas expects full-year funds from operations in the range of $4.03 to $4.07 per share.
The company's shares have decreased 5 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 1 percent.
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{{#rendered}} {{/rendered}}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