IRVINE, Calif. (AP) — IRVINE, Calif. (AP) — American Healthcare REIT Inc. (AHR) on Thursday reported a key measure of profitability in its first quarter. The results topped Wall Street expectations.
The real estate investment trust, based in Irvine, California, said it had funds from operations of $59.7 million, or 38 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 37 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 a loss of $6.8 million, or 4 cents per share.
The real estate investment trust posted revenue of $540.6 million in the period.
American Healthcare REIT expects full-year funds from operations in the range of $1.58 to $1.64 per share.
The company’s shares have increased 13% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $32.21, more than doubling in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AHR at https://www.zacks.com/ap/AHR
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