IRVINE, Calif. (AP) _ Sabra Healthcare REIT Inc. (SBRA) on Wednesday reported a key measure of profitability in its first quarter. The results did not meet Wall Street expectations.
The real estate investment trust, based in Irvine, California, said it had funds from operations of $85.4 million, or 48 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 50 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 a loss of $77.7 million, or 44 cents per share.
The health care real estate investment trust posted revenue of $136.8 million in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $144.9 million.
The company's shares have climbed 20% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.76, a rise of slightly more than 1% 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 SBRA at https://www.zacks.com/ap/SBRA