MURFREESBORO, Tenn. (AP) — MURFREESBORO, Tenn. (AP) — National Health Investors Inc. (NHI) on Tuesday reported a key measure of profitability in its third quarter. The results missed Wall Street expectations.
The Murfreesboro, Tennessee-based real estate investment trust said it had funds from operations of $45.5 million, or $1.03 per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of $1.07 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 $28.5 million, or 65 cents per share.
The health care real estate investment trust, based in Murfreesboro, Tennessee, posted revenue of $82.9 million in the period, beating Street forecasts. Four analysts surveyed by Zacks expected $80.7 million.
National Health Investors expects full-year funds from operations in the range of $4.43 to $4.44 per share.
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