Welltower: Q2 Earnings Snapshot

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

The Toledo, Ohio-based real estate investment trust said it had funds from operations of $330.2 million, or 79 cents per share, in the period.

The average estimate of eight 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 $26.3 million, or 6 cents per share.

The senior housing and health care real estate investment trust posted revenue of $1.14 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $1.1 billion.

For the current quarter ending in October, Welltower expects its per-share funds from operations to range from 78 cents to 83 cents.

The company's shares have increased 36% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $87.73, an increase of 60% 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