×

National Health Investors reports 3Q results

MURFREESBORO, Tenn. (AP) _ National Health Investors Inc. (NHI) on Wednesday reported a key measure of profitability in its third quarter. The results topped Wall Street expectations.

The real estate investment trust, based in Murfreesboro, Tennessee, said it had funds from operations of $56.7 million, or $1.37 per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $1.34 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 $39.1 million, or 94 cents per share.

The health care real estate investment trust posted revenue of $71.4 million in the period.

National Health Investors expects full-year funds from operations in the range of $5.22 to $5.26 per share.

The company's shares have increased 6 percent since the beginning of the year. The stock has increased almost 8 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 NHI at https://www.zacks.com/ap/NHI