Welltower: Q1 Earnings Snapshot

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

The Toledo, Ohio-based real estate investment trust said it had funds from operations of $333.9 million, or 80 cents per share, in the period.

The average estimate of 10 analysts surveyed by Zacks Investment Research was for funds from operations of 75 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 $71.5 million, or 17 cents per share.

The senior housing and health care real estate investment trust posted revenue of $1.05 billion in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $1.09 billion.

The company's shares have increased 17% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $75.52, a climb of 54% 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