Welltower reports 1Q results

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

The Toledo, Ohio-based real estate investment trust said it had funds from operations of $383.2 million, or $1.05 per share, in the period.

The average estimate of 11 analysts surveyed by Zacks Investment Research was for funds from operations of $1.05 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 $312.6 million, or 86 cents per share.

The senior housing and health care real estate investment trust posted revenue of $1.06 billion in the period.

Welltower expects full-year funds from operations in the range of $4.15 to $4.25 per share.

The company's shares have climbed slightly more than 4 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 7 percent. The stock has declined 6 percent 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 HCN at https://www.zacks.com/ap/HCN

Keywords: Welltower, Earnings Report