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SAN CLEMENTE, Calif. (AP) — SAN CLEMENTE, Calif. (AP) — CareTrust REIT Inc. (CTRE) on Thursday reported a key measure of profitability in its fourth quarter.
The San Clemente, California-based real estate investment trust said it had funds from operations of $37 million, or 38 cents per share, in the period.
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 $14.4 million, or 15 cents per share.
The health care real estate investment trust posted revenue of $51.8 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $51.4 million.
For the year, the company reported funds from operations of $144.5 million, or $1.49 per share. Revenue was reported as $196.1 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a CTRE">Zacks stock report on CTRE at https://www.zacks.com/ap/CTRE