EPR Properties: Q1 Earnings Snapshot
KANSAS CITY, Mo. (AP) _ EPR Properties (EPR) on Wednesday reported a key measure of profitability in its first quarter. The results surpassed Wall Street expectations.
The real estate investment trust, based in Kansas City, Missouri, said it had funds from operations of $38.9 million, or 52 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 44 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 $2.7 million, or 4 cents per share.
The real estate investment trust posted revenue of $111.8 million in the period. Its adjusted revenue was $102.6 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $90.2 million.
The company’s shares have risen 46% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $47.47, a rise of 76% in the last 12 months.