IRVINE, Calif. (AP) _ Healthpeak Properties, Inc. (PEAK) on Monday reported a key measure of profitability in its third quarter. The results surpassed Wall Street expectations.
The Irvine, California-based real estate investment trust said it had funds from operations of $215.4 million, or 40 cents per share, in the period.
The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of 39 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 $63.8 million, or 12 cents per share.
The health care real estate investment trust posted revenue of $597.7 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $606.8 million.
The company's shares have decreased 18% since the beginning of the year. In the final minutes of trading on Monday, shares hit $28.25, a decrease of 25% 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