BIRMINGHAM, Ala. (AP) — BIRMINGHAM, Ala. (AP) — Medical Properties Trust Inc. (MPW) on Thursday reported a key measure of profitability in its third quarter. The results exceeded Wall Street expectations.
The real estate investment trust, based in Birmingham, Alabama, said it had funds from operations of $225.5 million, or 38 cents per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 35 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 $116.7 million, or 19 cents per share.
The health care real estate investment trust, based in Birmingham, Alabama, posted revenue of $306.6 million in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $346.5 million.
Medical Properties expects full-year funds from operations in the range of $1.56 to $1.58 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 MPW at https://www.zacks.com/ap/MPW