IRVINE, Calif. (AP) _ Healthpeak Properties, Inc. (PEAK) on Tuesday reported a key measure of profitability in its second quarter. The results matched Wall Street expectations.
The real estate investment trust, based in Irvine, California, said it had funds from operations of $216.5 million, or 40 cents per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 40 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 $51.1 million, or 9 cents per share.
The health care real estate investment trust posted revenue of $588.4 million in the period.
The company's shares have declined 21% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $27.31, a decline of 16% 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 PEAK at https://www.zacks.com/ap/PEAK
Automated Insights, source Associated Press News