IRVINE, Calif. (AP) — IRVINE, Calif. (AP) — American Healthcare REIT Inc. (AHR) on Thursday reported a key measure of profitability in its fourth quarter. The results matched Wall Street expectations.
The Irvine, California-based real estate investment trust said it had funds from operations of $82.8 million, or 46 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 46 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 $10.8 million, or 6 cents per share.
The real estate investment trust posted revenue of $604.1 million in the period.
For the year, the company reported funds from operations of $286.5 million, or $1.72 per share. Revenue was reported as $2.26 billion.
American Healthcare REIT expects full-year funds from operations in the range of $1.99 to $2.05 per share.
The company’s shares have climbed 13% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $53.19, an increase of 79% in the last 12 months.
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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 AHR at https://www.zacks.com/ap/AHR
