TOLEDO, Ohio (AP) — TOLEDO, Ohio (AP) — Welltower Inc. (WELL) on Tuesday reported a key measure of profitability in its fourth quarter. The results exceeded Wall Street expectations.
The Toledo, Ohio-based real estate investment trust said it had funds from operations of $715.9 million, or $1.13 per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $1.12 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 $120 million, or 19 cents per share.
The senior housing and health care real estate investment trust, based in Toledo, Ohio, posted revenue of $2.25 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $2.12 billion.
For the year, the company reported funds from operations of $2.63 billion. Revenue was reported as $7.99 billion.
Welltower expects full-year funds from operations in the range of $4.79 to $4.95 per share.
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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 WELL at https://www.zacks.com/ap/WELL
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