IRVINE, Calif. (AP) _ Sabra Healthcare REIT Inc. (SBRA) on Wednesday reported a key measure of profitability in its second quarter. The results did not meet Wall Street expectations.
The Irvine, California-based real estate investment trust said it had funds from operations of $83.9 million, or 46 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 47 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 $83.7 million, or 46 cents per share.
The health care real estate investment trust posted revenue of $219.4 million in the period.
The company's shares have climbed 25% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $20.60, a drop of roughly 8% in the last 12 months.