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HUNT VALLEY, Md. (AP) _ Omega Healthcare Investors Inc. (OHI) on Wednesday reported a key measure of profitability in its second quarter. The results beat Wall Street expectations.
The Hunt Valley, Maryland-based real estate investment trust said it had funds from operations of $189.8 million, or 81 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 76 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 $99.3 million, or 43 cents per share.
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The health care real estate investment trust posted revenue of $256.4 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $251.2 million.
The company’s shares have dropped 24% since the beginning of the year. The stock has declined 11% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OHI at https://www.zacks.com/ap/OHI
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