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MURFREESBORO, Tenn. (AP) — MURFREESBORO, Tenn. (AP) — National Health Investors Inc. (NHI) on Tuesday reported a key measure of profitability in its fourth quarter. The results beat Wall Street expectations.
The real estate investment trust, based in Murfreesboro, Tennessee, said it had funds from operations of $47.3 million, or $1.09 per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of $1.08 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 $32 million, or 74 cents per share.
The health care real estate investment trust, based in Murfreesboro, Tennessee, posted revenue of $79.5 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $79.7 million.
For the year, the company reported funds from operations of $187.9 million. Revenue was reported as $319.8 million.
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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