CHICAGO (AP) — CHICAGO (AP) — Ventas Inc. (VTR) on Monday reported a key measure of profitability in its first quarter. The results surpassed Wall Street expectations.

The Chicago-based real estate investment trust said it had funds from operations of $455.6 million, or 94 cents per share, in the period.

The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 91 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 $55.9 million, or 11 cents per share.

The seniors housing real estate investment trust, based in Chicago, posted revenue of $1.66 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $1.58 billion.

Ventas expects full-year funds from operations in the range of $3.82 to $3.89 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 VTR at https://www.zacks.com/ap/VTR