FRANKLIN, Tenn. (AP) _ Community Healthcare Trust Inc. (CHCT) on Tuesday reported a key measure of profitability in its first quarter. The results fell short of Wall Street expectations.
The Franklin, Tennessee-based real estate investment trust said it had funds from operations of $7.2 million, or 40 cents per share, in the period.
The average estimate of four 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 $1.5 million, or 6 cents per share.
The real estate investment trust posted revenue of $13.4 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $13.7 million.
The company's shares have climbed 27% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $36.74, an increase of 37% 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 CHCT at https://www.zacks.com/ap/CHCT