SCOTTSDALE, Ariz. (AP) _ Healthcare Trust of America Inc. (HTA) on Thursday reported a key measure of profitability in its fourth quarter. The results fell short of Wall Street expectations.
The Scottsdale, Arizona-based real estate investment trust said it had funds from operations of $68.3 million, or 40 cents per share, in the period.
The average estimate of nine 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 $15.3 million, or 7 cents per share.
The medical office building real estate investment trust posted revenue of $172.3 million in the period, which also did not meet Street forecasts. Six analysts surveyed by Zacks expected $173 million.
For the year, the company reported funds from operations of $285.3 million, or $1.62 per share. Revenue was reported as $696.4 million.
Healthcare Trust of America expects full-year funds from operations in the range of $1.62 to $1.67 per share.
The company's shares have climbed 11 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $28.22, a climb of 10 percent in the last 12 months.