Welltower: 4Q Earnings Snapshot

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

The real estate investment trust, based in Toledo, Ohio, said it had funds from operations of $351.3 million, or 84 cents per share, in the period.

The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 77 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 net income of $163.7 million, or 39 cents per share.

The senior housing and health care real estate investment trust posted revenue of $1.12 billion in the period, which met Street forecasts.

For the year, the company reported funds from operations of $1.48 billion, or $3.56 per share. Revenue was reported as $4.61 billion.

The company's shares have dropped 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $63.23, a fall of 26% 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