HUNT VALLEY, Md. (AP) — Omega Healthcare Investors Inc. (OHI) on Monday reported a key measure of profitability in its fourth quarter. The results fell short of Wall Street expectations.
The real estate investment trust, based in Hunt Valley, Maryland, said it had funds from operations of $155 million, or 73 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 76 cents 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 $62.2 million, or 31 cents per share.
The health care real estate investment trust posted revenue of $219.8 million in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $223.3 million.
For the year, the company reported funds from operations of $638.3 million, or $3.04 per share. Revenue was reported as $881.7 million.
Omega Healthcare Investors expects full-year funds from operations in the range of $3 to $3.12 per share.
The company’s shares have increased 12 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $39.29, a rise of 50 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OHI at https://www.zacks.com/ap/OHI
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