MISSION VIEJO: CareTrust REIT Inc. (CTRE) has reported a key measure of profitability in its fourth quarter.
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 $630,000, or 3 cents per share.
The health care real estate investment trust, based in Mission Viejo, California, posted revenue of $16.1 million in the period.
CareTrust REIT expects full-year funds from operations in the range of 96 cents to 98 cents per share.
The company’s shares have risen 6 percent since the beginning of the year…