NEWTON, Mass. (AP) _ Senior Housing Properties Trust (SNH) on Thursday reported a key measure of profitability in its first quarter. The results did not meet Wall Street expectations.
The Newton, Massachusetts-based real estate investment trust said it had funds from operations of $88.2 million, or 37 cents per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 38 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 $30.1 million, or 13 cents per share.
The residential care real estate investment trust posted revenue of $266.3 million in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $270 million.
The company's shares have decreased 32% since the beginning of the year. The stock has dropped 51% 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 SNH at https://www.zacks.com/ap/SNH