DENVER (AP) — DENVER (AP) — Healthpeak Properties, Inc. (DOC) on Tuesday reported a key measure of profitability in its first quarter. The results topped Wall Street expectations.

The real estate investment trust, based in Denver, said it had funds from operations of $316.9 million, or 45 cents per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 43 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 net income of $193.5 million, or 28 cents per share.

The health care real estate investment trust, based in Denver, posted revenue of $753 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $671.9 million.

Healthpeak expects full-year funds from operations in the range of $1.71 to $1.75 per share.

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