TUSTIN, Calif. (AP) — TUSTIN, Calif. (AP) — Sabra Healthcare REIT Inc. (SBRA) on Thursday reported a key measure of profitability in its third quarter. The results topped Wall Street expectations.
The real estate investment trust, based in Tustin, California, said it had funds from operations of $86.9 million, or 37 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 36 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 $29.8 million, or 13 cents per share.
The health care real estate investment trust, based in Tustin, California, posted revenue of $178 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $177.2 million.
Sabra expects full-year funds from operations in the range of $1.43 to $1.44 per share.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SBRA at https://www.zacks.com/ap/SBRA
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
