WASHINGTON (dpa-AFX) - Senior Housing Properties Trust (SNH) reported that its fourth-quarter funds from operations or FFO increased to $70.54 million from $62.00 million in the year ago quarter. However, funds from operations per share declined to $0.44 from $0.48 last year.
Normalized funds from operations, or Normalized FFO, were $67.9 million, or $0.42 per share, compared to Normalized FFO of $57.2 million or $0.44 per share last year.
Normalized FFO for the quarter ended December 31, 2011 were impacted by the timing of acquisitions and deployment of the proceeds received from our equity and debt offerings during the quarter, as well as the negative impact of lease value amortization of our recent acquisitions.
Net income was $38.6 million, or $0.24 per share, compared to net income of $33.9 million, or $0.26 per share last year.
Total revenues for the quarter rose to $136.60 million from $97.36 million in the prior year quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.43 per share on revenues of $129.51 million for the quarter. Analysts' estimates typically exclude special items.
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