Newton REIT Senior Housing Properties Trust reported second quarter net income of $30.5 million, compared to net income of $21.7 million for the same period in 2008, a 40.5 percent increase.

Net income for the 2008 second quarter included an impairment of assets charge of $2.9 million related to a property the trust said it intends to sell.

Net income for the six-month period ended June 30 was $62 million, compared to net income of $45 million for the same period a year ago.

Funds from operations (FFO) for the second quarter was $52.8 million, compared to FFO for the second quarter of 2008 of $41.2 million.

Senior Housing REIT Posts $30.5M Q2 Net

by Banker & Tradesman time to read: <1 min
0