DENVER (AP) — DENVER (AP) — Healthpeak Properties, Inc. (PEAK) on Tuesday reported a key measure of profitability in its fourth quarter. The results topped Wall Street expectations.
The real estate investment trust, based in Denver, said it had funds from operations of $238.7 million, or 44 cents per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 43 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 $6.4 million, or 1 cent per share.
The health care real estate investment trust, based in Denver, posted revenue of $524.5 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $520 million.
For the year, the company reported funds from operations of $950.3 million. Revenue was reported as $2.06 billion.
Healthpeak expects full-year funds from operations in the range of $1.70 to $1.76 per share.
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