Omega Healthcare Investors: Q1 Earnings Snapshot

HUNT VALLEY, Md. (AP) — HUNT VALLEY, Md. (AP) — Omega Healthcare Investors Inc. (OHI) on Thursday reported a key measure of profitability in its first quarter. The results exceeded Wall Street expectations.

The real estate investment trust, based in Hunt Valley, Maryland, said it had funds from operations of $176.1 million, or 68 cents per share, in the period.

The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 65 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 $67.4 million, or 27 cents per share.

The health care real estate investment trust, based in Hunt Valley, Maryland, posted revenue of $243.3 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $239.9 million.

Omega Healthcare Investors expects full-year funds from operations in the range of $2.70 to $2.80 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OHI at https://www.zacks.com/ap/OHI