WASHINGTON (dpa-AFX) - Senior Housing Properties Trust (SNH) Monday released the financial results for the first quarter ended 31 March 2012, reporting that funds from operations or FFO increased to $68.80 million, or $0.42 per share, from $58.30 million, or $0.41 per share, reported in the same quarter last year.
Normalized funds from operations, or Normalized FFO, were $72.39 million, or $0.45 per share, compared to Normalized FFO of $62.12 million or $0.44 per share last year.
Normalized FFO for the quarter ended March 31, 2012 includes percentage rent and exclude acquisition related costs and loss on early extinguishment of debt,
Net income for the first quarter increased to $32.35 million from net income of $31.85 million reported for the year-ago quarter. Diluted earnings per share for the quarter, however, declined to $0.20 from $0.22 per share last year, on higher share count.
Total revenues for the quarter surged up to $145.07 million from $98.55 million in the prior year quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.46 per share on revenues of $143.13 million for the quarter. Analysts' estimates typically exclude special items.
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© 2012 AFX News
