Welltower: 1Q Earnings Snapshot

TOLEDO, Ohio (AP) _ Welltower Inc. (WELL) on Wednesday reported a key measure of profitability in its first quarter. The results exceeded Wall Street expectations.

The real estate investment trust, based in Toledo, Ohio, said it had funds from operations of $419.3 million, or $1.02 per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $1.01 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 $310.3 million, or 75 cents per share.

The senior housing and health care real estate investment trust posted revenue of $1.26 billion in the period.

The company's shares have declined 45% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $45.32, a fall of 40% 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 WELL at https://www.zacks.com/ap/WELL