MedEquities Realty Trust: 2Q Earnings Snapshot
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NASHVILLE, Tenn. (AP) _ MedEquities Realty Trust Inc. (MRT) on Wednesday reported a key measure of profitability in its second quarter. The results met Wall Street expectations.
The Nashville, Tennessee-based real estate investment trust said it had funds from operations of $9.6 million, or 30 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 30 cents per share.
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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 $3.2 million, or 10 cents per share.
The real estate investment trust posted revenue of $17.6 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $17 million.
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MedEquities Realty Trust expects full-year funds from operations in the range of $1.19 to $1.22 per share.
The company's shares have risen slightly since the beginning of the year. The stock has decreased 5 percent in the last 12 months.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on MRT at https://www.zacks.com/ap/MRT