TOLEDO, Ohio (AP) — TOLEDO, Ohio (AP) — Welltower Inc. (WELL) on Monday reported a key measure of profitability in its third quarter. The results surpassed Wall Street expectations.

The Toledo, Ohio-based real estate investment trust said it had funds from operations of $1.26 billion, or $1.67 per share, in the period.

The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of $1.64 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 $396.6 million, or 54 cents per share.

The senior housing and health care real estate investment trust, based in Toledo, Ohio, posted revenue of $3.72 billion in the period.

Welltower expects full-year funds from operations in the range of $6.47 to $6.53 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 WELL at https://www.zacks.com/ap/WELL