MURFREESBORO, Tenn. (AP) — National Health Investors Inc. (NHI) on Monday reported a key measure of profitability in its second quarter. The results missed Wall Street expectations.
The real estate investment trust, based in Murfreesboro, Tennessee, said it had funds from operations of $53.1 million, or $1.16 per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of $1.25 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 $39.2 million, or 85 cents per share.
The health care real estate investment trust posted revenue of $74.3 million in the period.
The company’s shares have declined slightly more than 5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $65.45, dropping slightly in the last 12 months.