KANSAS CITY, Mo. (AP) _ EPR Properties (EPR) on Monday reported a key measure of profitability in its first quarter. The results exceeded Wall Street expectations.
The real estate investment trust, based in Kansas City, Missouri, said it had funds from operations of $102.6 million, or $1.36 per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of $1.35 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 $59.3 million, or 79 cents per share.
The real estate investment trust posted revenue of $164.5 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $144.7 million.
EPR Properties expects full-year funds from operations in the range of $4.91 to $5.06 per share.
The company's shares have climbed 21% since the beginning of the year. In the final minutes of trading on Monday, shares hit $77.41, an increase of 40% 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 EPR at https://www.zacks.com/ap/EPR