New Senior Investment Group: 4Q Earnings Snapshot
NEW YORK (AP) _ New Senior Investment Group Inc. (SNR) on Thursday reported a key measure of profitability in its fourth quarter, after reporting a loss in the same period a year earlier. The results beat Wall Street expectations.
The real estate investment trust, based in New York, said it had funds from operations of $15.1 million, or 18 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 15 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 $6.7 million, or 8 cents per share.
The real estate investment trust that owns senior housing properties posted revenue of $86.2 million in the period.
For the year, the company reported funds from operations of $55.8 million, swinging to a profit in the period. Revenue was reported as $345.9 million.
New Senior Investment Group expects full-year funds from operations in the range of 67 cents to 71 cents per share.
The company’s shares have climbed roughly 1% since the beginning of the year. The stock has increased 48% in the last 12 months.