MedEquities Realty Trust: 2Q Earnings Snapshot
NASHVILLE, Tenn. (AP) _ MedEquities Realty Trust Inc. (MRT) on Wednesday reported a key measure of profitability in its second quarter. The results met Wall Street expectations.
The Nashville, Tennessee-based real estate investment trust said it had funds from operations of $9.6 million, or 30 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 30 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 $3.2 million, or 10 cents per share.
The real estate investment trust posted revenue of $17.6 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $17 million.
MedEquities Realty Trust expects full-year funds from operations in the range of $1.19 to $1.22 per share.
The company’s shares have risen slightly since the beginning of the year. The stock has decreased 5 percent in the last 12 months.