KANSAS CITY, Mo. (AP) — KANSAS CITY, Mo. (AP) — EPR Properties (EPR) on Wednesday 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 Kansas City, Missouri, said it had funds from operations of $85.7 million, or $1.12 per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of $1.14 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 $56.7 million, or 75 cents per share.
The real estate investment trust, based in Kansas City, Missouri, posted revenue of $167.2 million in the period. Its adjusted revenue was $142.3 million, which also missed Street forecasts. Three analysts surveyed by Zacks expected $142.8 million.
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