Sunday, Jun 26, 2016
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Medical

Health Care REIT posts lower profit for quarter

Toledo's Health Care REIT Inc. reported a second quarter profit Monday of $54.7 million, or 25 cents a share, down 36 percent from $69.8 million, or 39 cents a share, from the year-ago period.

The Toledo real estate investment trust, which in the second quarter completed an acquisition of 42 senior housing and care communities in Canada that it arranged through a partnership with Chartwell Seniors Housing REIT, said it had quarterly revenue of $453 million, which compared with $369.6 million a year ago.

The company's funds for operations, a key measurement for the performance of real estate investment trusts, was 89 cents a share, down from 90 cents a share.

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