Health Care REIT posts 2% increase in profit

11/7/2012

Health Care REIT Inc., the Toledo real estate investment trust that has spent much of 2012 making significant acquisitions, on Tuesday reported a third-quarter profit of $37.2 million, or 16 cents a share, up 2 percent from $36.6 million, or 21 cents a share, for the year-ago period.

The company, which in the third quarter completed approximately $1 billion of new investments, including a $243.5 million acquistion of five Sunrise Senior Living properties in the United Kingdom, said it had quarterly revenue of $474.1 million, up from $370.7 million a year ago.

Health Care REIT’s funds for operations, a key measurement for the performance of real estate investment trusts, was 91 cents a share, up from 89 cents. The company’s stock, which is traded on the New York Stock Exchange, closed Tuesday at $58.67 a share, up 32 cents.