TOLEDO, Ohio (AP) — TOLEDO, Ohio (AP) — Welltower Inc. (WELL) on Tuesday reported a key measure of profitability in its first quarter. The results topped Wall Street expectations.
The real estate investment trust, based in Toledo, Ohio, said it had funds from operations of $1.07 billion, or $1.47 per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of $1.45 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 $728.7 million, or $1.02 per share.
The senior housing and health care real estate investment trust, based in Toledo, Ohio, posted revenue of $3.35 billion in the period.
Welltower expects full-year funds from operations in the range of $6.21 to $6.35 per share.
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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 WELL at https://www.zacks.com/ap/WELL
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