Senior Housing Properties Q1 Profit Meets View - Quick Facts

(RTTNews) - Senior Housing Properties Trust (SNH) said its first-quarter net income was $39.79 million or $0.18 per share, compared to net income of $38.58 million or $0.21 per share in the previous year.

Normalized funds from operations, or normalized FFO, for the quarter were $0.45 per share, compared to $0.43 per share last year. On average, nine analysts polled by Thomson Reuters expected earnings of $0.45 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter grew to $228.58 million from $191.50 million in the prior year. Analysts expected revenues of $233.25 million.

SNH President and Chief Operating Officer David Hegarty said, "Our financial performance improved during the first quarter of 2015, highlighted by Normalized FFO growth of 4.7% compared to the comparable period last year. We also grew consolidated same property cash NOI by 1.1% year over year, including 5.0% same property NOI growth year over year in our managed senior living portfolio."