Healthcare Realty Trust posted first-quarter funds from operations of $27.3 million, almost double its year-ago numbers. On a normalized basis, FFO per share was 33 cents, two cents more than analysts had expected.
Revenues at the Nashville-based real estate investment trust rose to $78.1 million from $72 million in early 2011. The company was able to limit operating expense growth and also got a bottom-line boost from lower interest costs. The same-facility occupancy rate came in at 91 percent, and the average lease increase from last year topped 3 percent.
During the quarter, Healthcare Realty spent $21.3 million on two acquisitions.
Shares of Healthcare Realty (Ticker: HR) closed Tuesday trading at $21.76, up 1.3 percent on the day. For the year, they have risen 17 percent.