TOLEDO, Ohio (AP) — TOLEDO, Ohio (AP) — Welltower Inc. (WELL) on Tuesday reported a key measure of profitability in its fourth quarter. The results topped Wall Street expectations.

The Toledo, Ohio-based real estate investment trust said it had funds from operations of $529.6 million, or 96 cents per share, in the period.

The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 94 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 net income of $83.9 million, or 15 cents per share.

The senior housing and health care real estate investment trust, based in Toledo, Ohio, posted revenue of $1.75 billion in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $1.71 billion.

For the year, the company reported funds from operations of $1.89 billion. Revenue was reported as $6.64 billion.

Welltower expects full-year funds from operations in the range of $3.94 to $4.10 per share.

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