Tuesday, August 04, 2015
Current Weather
Loading Current Weather....
Published: Wednesday, 8/8/2007

Profit, revenue rise at Health Care REIT

Toledo s Health Care REIT Inc. said yesterday it increased profits and revenues for the second quarter.

The report, released a day after the company increased its credit line significantly to $1.15 billion, said it had a profit of $25.6 million, or 32 cents a share, for the quarter, up from $22.7 million, or 37 cents a share, for the period a year ago. Revenues grew to $119 million from $78 million.

The real-estate investment trust which owns health care facilities nationwide said its acquisition plans for the year have increased to a range of $750 million to $950 million from $700 million to $800 million projected earlier, and its development plans have decreased to $250 million from a range of $300 million to $400 million forecast earlier.

Its funds from operations, considered a key financial measure by the industry, rose to 78 cents a share from 74 cents a year ago.

Recommended for You

Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.