DANA POINT, Calif. (AP) 鈥� DANA POINT, Calif. (AP) 鈥� CareTrust REIT Inc. (CTRE) on Thursday reported a key measure of profitability in its first quarter.
The Dana Point, California-based real estate investment trust said it had funds from operations of $107.4 million, or 48 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 $80.2 million, or 36 cents per share.
The health care real estate investment trust, based in Dana Point, California, posted revenue of $142.8 million in the period.
CareTrust REIT expects full-year funds from operations in the range of $2 to $2.04 per share.
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