CareTrust REIT: 3Q Earnings Snapshot

SAN CLEMENTE, Calif. (AP) _ CareTrust REIT Inc. (CTRE) on Thursday reported a key measure of profitability in its third quarter. The results topped Wall Street expectations.

The San Clemente, California-based real estate investment trust said it had funds from operations of $33.6 million, or 35 cents per share, in the period.

The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 34 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 a loss of $10.1 million, or 11 cents per share.

The health care real estate investment trust posted revenue of $33.3 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $44.2 million.

For the current quarter ending in December, CareTrust REIT expects its per-share funds from operations to range from 34 cents to 35 cents.

The company expects full-year funds from operations in the range of $1.36 to $1.37 per share.

The company's shares have risen 16% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $21.47, an increase of 11% in the last 12 months.

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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 CTRE at https://www.zacks.com/ap/CTRE