KING OF PRUSSIA, Pa. (AP) _ Universal Health Realty Income Trust (UHT) on Wednesday reported a key measure of profitability in its first quarter.
The real estate investment trust, based in King Of Prussia, Pennsylvania, said it had funds from operations of $10.8 million, or 80 cents per share, in the period.
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 $31.6 million, or $2.32 per share.
The real estate investment trust posted revenue of $17.8 million in the period.
The company's shares have climbed nearly 7 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $69.96, a rise of 26 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 UHT at https://www.zacks.com/ap/UHT
Keywords: Universal Health Realty, Earnings Report