Healthcare Realty: 4Q Earnings Snapshot
Healthcare Realty Trust Inc. (HR) just reported a key measure of profitability in its fourth quarter, and the results met Wall Street expectations.
The Nashville, Tennessee-based real estate investment trust said it had funds from operations of $49.1 million, or 40 cents per share, in the period. The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of 40 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 $16.3 million, or 13 cents per share.
The real estate investment trust, based in Nashville, Tennessee, posted revenue of $113.2 million in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $114.3 million.
For the year, the company reported funds from operations of $195.3 million, or $1.57 per share. Revenue was reported as $450.4 million. The company’s shares have increased 13 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $32.13, a rise of 14 percent in the last 12 months.
Source: US News & World Report
