HUNT VALLEY, Md. (AP) — Omega Healthcare Investors Inc. (OHI) on Thursday reported a key measure of profitability in its third quarter. The results beat Wall Street expectations.
The Hunt Valley, Maryland-based real estate investment trust said it had funds from operations of $191.8 million, or 82 cents per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 80 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 a loss of $91.3 million, or 40 cents per share.
The health care real estate investment trust posted revenue of $119.2 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $253.4 million.
The company’s shares have fallen 30% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $29.71, a decline of 33% in the last 12 months.
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