KANSAS CITY, Mo. (AP) _ EPR Properties (EPR) on Wednesday reported a key measure of profitability in its first quarter. The results fell short of Wall Street expectations.
The real estate investment trust, based in Kansas City, Missouri, said it had funds from operations of $93.8 million, or $1.14 per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $1.15 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 $31.1 million, or 40 cents per share.
The real estate investment trust posted revenue of $151 million in the period. Its adjusted revenue was $135 million, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $150.8 million.
The company's shares have declined 62% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $26.53, a decline of 67% in the last 12 months.