Monday, Healthcare Realty Trust Incorporated (HR), a real estate investment trust, reported an increase in fourth quarter funds from operations helped by one-time items, on higher revenues.
Funds from operations or FFO for the quarter rose to $28.56 million or $0.49 per share from $19.4 million or $0.39 per share in the prior period. Results for the current quarter included the net positive effect of certain one-time items totaling $6.5 million, or $0.11 per share. Funds available for distribution for the quarter totaled $0.54 per share.
On average, ten analysts surveyed by Thomson Reuters expected the company to report earnings of $0.38 per share for the quarter. Analysts' estimates typically exclude special items.
Net income rose to $15.6 million, or $0.27 per share from $4.6 million, or $0.09 per share in the corresponding period last year. Income from continuing operations more than doubled to $6.8 million, from $3.3 million in the prior year period.
Quarterly revenues increased to $57.1 million from $50.3 million in the year-ago quarter, yet came below five Street analysts' estimate of $58.32 million.
For the twelve-month period, FFO rose to $85.4 million or $1.63 per share from $73.17 million or $1.51 per share last year. Net income slid to $41.7 million, or $0.79 per share, from $60.1 million, or $1.24 per share last year. Revenues rose to $214.2 million from $197.4 million in the previous year.
HR declined $1.23 or 8.41% and closed Monday's regular trading at $13.40. After hours, HR rose $1.02 or 7.61% and traded at $14.42.
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