MURFREESBORO, Tenn. (AP) — MURFREESBORO, Tenn. (AP) — National Health Investors Inc. (NHI) on Monday reported a key measure of profitability in its first quarter. The results surpassed Wall Street expectations.

The real estate investment trust, based in Murfreesboro, Tennessee, said it had funds from operations of $48.5 million, or $1.10 per share, in the period.

The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of $1.05 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 $30.9 million, or 71 cents per share.

The health care real estate investment trust, based in Murfreesboro, Tennessee, posted revenue of $81.5 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $79.4 million.

National Health Investors expects full-year funds from operations in the range of $4.37 to $4.43 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NHI at https://www.zacks.com/ap/NHI