BIRMINGHAM, Ala. (AP) _ Medical Properties Trust Inc. (MPW) on Thursday reported a key measure of profitability in its second quarter. The results matched Wall Street expectations.
The Birmingham, Alabama-based real estate investment trust said it had funds from operations of $199.6 million, or 38 cents per share, in the period.
The average estimate of five 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 $109.5 million, or 21 cents per share.
The health care real estate investment trust posted revenue of $291.8 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $309.8 million.
Medical Properties expects full-year funds from operations in the range of $1.68 to $1.71 per share.
The company's shares have declined nearly 4% since the beginning of the year. The stock has climbed 15% in the last 12 months.