KANSAS CITY, Mo. (AP) _ EPR Properties (EPR) on Wednesday reported a key measure of profitability in its second quarter. The results surpassed Wall Street expectations.
The Kansas City, Missouri-based real estate investment trust said it had funds from operations of $109.1 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 $1.31 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 $60.6 million, or 79 cents per share.
The real estate investment trust posted revenue of $175.7 million in the period. Its adjusted revenue was $157.3 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $154.4 million.
EPR Properties expects full-year funds from operations in the range of $4.92 to $5.05 per share.
The company's shares have risen 16% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $74.42, an increase of 12% in the last 12 months.