BIRMINGHAM, Ala. (AP) _ Medical Properties Trust Inc. (MPW) on Thursday reported a key measure of profitability in its fourth quarter. The results exceeded Wall Street expectations.
The Birmingham, Alabama-based real estate investment trust said it had funds from operations of $134.8 million, or 37 cents per share, in the period.
The average estimate of 10 analysts surveyed by Zacks Investment Research was for funds from operations of 35 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 $71.9 million, or 19 cents per share.
The health care real estate investment trust posted revenue of $205 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $197.6 million.
For the year, the company reported funds from operations of $474.9 million, or $1.35 per share. Revenue was reported as $704.7 million.
Medical Properties expects full-year funds from operations in the range of $1.42 to $1.46 per share.
The company's shares have dropped 11 percent since the beginning of the year. The stock has decreased almost 4 percent 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 MPW at https://www.zacks.com/ap/MPW