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HUNT VALLEY, Md. (AP) _ Omega Healthcare Investors Inc. (OHI) on Monday reported a key measure of profitability in its second quarter. The results beat Wall Street expectations.
The real estate investment trust, based in Hunt Valley, Maryland, said it had funds from operations of $206.8 million, or 85 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 83 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.
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The company said it had net income of $84.5 million, or 36 cents per share.
The health care real estate investment trust posted revenue of $257.4 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $266.7 million.
The company’s shares have dropped almost 1% since the beginning of the year. In the final minutes of trading on Monday, shares hit $36.03, a rise of 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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