National Health Investors: 2Q Earnings Snapshot
MURFREESBORO, Tenn. (AP) _ National Health Investors Inc. (NHI) on Thursday reported a key measure of profitability in its second quarter. The results fell short of Wall Street expectations.
The Murfreesboro, Tennessee-based real estate investment trust said it had funds from operations of $59 million, or $1.36 per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of $1.37 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 $40 million, or 92 cents per share.
The health care real estate investment trust posted revenue of $78.1 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $77 million.
National Health Investors expects full-year funds from operations in the range of $5.44 to $5.50 per share.
The company’s shares have climbed 6.5% since the beginning of the year. The stock has climbed 3% in the last 12 months.