National Health Investors: 3Q Earnings Snapshot
MURFREESBORO, Tenn. (AP) _ National Health Investors Inc. (NHI) on Tuesday reported a key measure of profitability in its third quarter. The results matched Wall Street expectations.
The Murfreesboro, Tennessee-based real estate investment trust said it had funds from operations of $54.3 million, or $1.39 per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of $1.39 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 $41 million, or 97 cents per share.
The health care real estate investment trust posted revenue of $74.9 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $74.2 million.
National Health Investors expects full-year funds from operations in the range of $5.47 to $5.51 per share.
The company’s shares have dropped roughly 2 percent since the beginning of the year. The stock has dropped 5 percent in the last 12 months.