KANSAS CITY,attitash ski in ski out Mo. (AP) _ EPR Properties (EPR) on Wednesday reported a key measure of profitability in its third quarter. The results did not meet Wall Street expectations.
The real estate investment trust, based in Kansas City, Missouri, said it had funds from operations of $2.7 million, or 4 cents per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 32 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had a loss of $91.9 million, or $1.23 per share.
The real estate investment trust posted revenue of $63.9 million in the period. Its adjusted revenue was $55.6 million, which also missed Street forecasts. Three analysts surveyed by Zacks expected $100.7 million.
The company's shares have dropped 66% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $23.80, a drop of 69% in the last 12 months.
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