Health Care REIT loses $8.5 M in 2nd quarter

8/6/2013

Health Care REIT Inc., the Toledo real estate investment trust that focuses on hospital and senior living properties, on Tuesday reported a second-quarter loss of $8.5 million, or 3 cents a share. That compared with the same period a year ago when it had a profit of $54.7 million, or 25 cents a share.

The company, which at the end of the second quarter wrapped up its $4.3. billion acquisition of Sunrise Senior Living Inc., said its quarterly revenues rose to $682.1 million, up 55 percent from $438.7 million a year earlier.

The trust’s second quarter funds from operations, a key measurement for the performance of real estate investment trusts, was $256 million, or 93 cents a share, up from $190.7 million, or 89 cents a share for the same period a year ago. That was a cent higher than the analysts’ consensus estimate.

Health Care REIT’s stock, which is traded on the New York Stock Exchange, closed Tuesday at $63.29 a share, down 9 cents.