BIRMINGHAM, Ala. (AP) _ Medical Properties Trust Inc. (MPW) on Thursday reported a key measure of profitability in its second quarter. The results matched Wall Street expectations.
The Birmingham, Alabama-based real estate investment trust said it had funds from operations of $129.9 million, or 36 cents per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 36 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 $111.6 million, or 30 cents per share.
The health care real estate investment trust posted revenue of $201.9 million in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $207.2 million.
The company’s shares have risen almost 5 percent since the beginning of the year. The stock has climbed 12 percent in the last 12 months.