Health Care REIT profit skyrockets 40% to $55M

5/8/2013
BLADE STAFF AND NEWS SERVICES

Health Care REIT on Tuesday reported a profit of $55.1 million for the first quarter of 2013, up 40 percent from the same period last year. On a per-share basis, it rose from 19 cents per share to 21 cents per share.

The Toledo-based real estate investment trust said it had revenues of $634 million for the first quarter, up 52 percent from last year. That was well above the estimate of analysts.

Health Care REIT stock rose 51 cents, or about 0.7 percent, to close at $75.63 Tuesday.