IRVINE, Calif. (AP) _ Healthpeak Properties, Inc. (PEAK) on Tuesday reported a key measure of profitability in its fourth quarter. The results exceeded Wall Street expectations.

The real estate investment trust, based in Irvine, California, said it had funds from operations of $220.5 million, or 41 cents per share, in the period.

The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of 40 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 $146.1 million, or 27 cents per share.

The health care real estate investment trust posted revenue of $431.7 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $596 million.

For the year, the company reported funds from operations of $880.7 million, or $1.64 per share. Revenue was reported as $1.64 billion.

Healthpeak expects full-year funds from operations in the range of $1.50 to $1.60 per share.

The company's shares have decreased 1% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $29.92, a drop of 19% 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 PEAK at https://www.zacks.com/ap/PEAK

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News