MURFREESBORO, Tenn. (AP) — National Health Investors Inc. (NHI) on Monday reported a key measure of profitability in its fourth quarter.

The real estate investment trust, based in Murfreesboro, Tennessee, said it had funds from operations of $58.5 million, or $1.37 per share, in the period.

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 $37.1 million, or 83 cents per share.

The health care real estate investment trust posted revenue of $81.2 million in the period.

For the year, the company reported funds from operations of $250.5 million, or $5.60 per share. Revenue was reported as $332.8 million.

The company's shares have increased almost 1% since the beginning of the year. In the final minutes of trading on Monday, shares hit $69.79, a decline of 23% in the last 12 months.


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