DENVER (AP) — DENVER (AP) — Healthpeak Properties, Inc. (PEAK) on Monday reported a key measure of profitability in its third quarter. The results surpassed Wall Street expectations.
The Denver-based real estate investment trust said it had funds from operations of $251.6 million, or 45 cents per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 44 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 $64 million, or 12 cents per share.
The health care real estate investment trust, based in Denver, posted revenue of $556.2 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $543 million.
Healthpeak expects full-year funds from operations in the range of $1.76 to $1.78 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 PEAK at https://www.zacks.com/ap/PEAK