Senior Housing Properties Trust (SNH) on Monday reported a key measure of profitability in its fourth quarter. The results exceeded Wall Street expectations. The real estate investment trust, based in Newton, Massachusetts, said it had funds from operations of $118.6 million, or 50 cents per share, in the period. The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 48 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.
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