SCOTTSDALE, Ariz. (AP) _ Healthcare Trust of America Inc. (HTA) on Tuesday reported a key measure of profitability in its second quarter. The results met Wall Street expectations.
The Scottsdale, Arizona-based real estate investment trust said it had funds from operations of $85.2 million, or 41 cents per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 41 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 $16.3 million, or 8 cents per share.
The medical office building real estate investment trust posted revenue of $171.8 million in the period, which beat Street forecasts. Seven analysts surveyed by Zacks expected $170.6 million.
Healthcare Trust of America expects full-year funds from operations in the range of $1.63 to $1.65 per share.
The company's shares have climbed slightly more than 8% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $27.44, an increase of slightly more than 1% 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 HTA at https://www.zacks.com/ap/HTA
Automated Insights, source Associated Press News