SAN CLEMENTE, Calif. (AP) — SAN CLEMENTE, Calif. (AP) — CareTrust REIT Inc. (CTRE) on Thursday reported a key measure of profitability in its fourth quarter.

The San Clemente, California-based real estate investment trust said it had funds from operations of $104.1 million, or 47 cents per share, in the period.

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 $111.3 million, or 50 cents per share.

The health care real estate investment trust, based in San Clemente, California, posted revenue of $134.9 million in the period.

For the year, the company reported funds from operations of $359.7 million. Revenue was reported as $476.4 million.

CareTrust REIT expects full-year funds from operations in the range of $1.90 to $1.95 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 CTRE at https://www.zacks.com/ap/CTRE