MURFREESBORO, Tenn. (AP) — MURFREESBORO, Tenn. (AP) — National Health Investors Inc. (NHI) on Tuesday reported a key measure of profitability in its second quarter. The results surpassed Wall Street expectations.
The Murfreesboro, Tennessee-based real estate investment trust said it had funds from operations of $51.2 million, or $1.18 per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of $1.10 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 $35.2 million, or 81 cents per share.
The health care real estate investment trust, based in Murfreesboro, Tennessee, posted revenue of $85 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $81.5 million.
National Health Investors expects full-year funds from operations in the range of $4.52 to $4.56 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 NHI at https://www.zacks.com/ap/NHI
