1
Exhibit 11
MEDITRUST
STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS
(000 omitted except for per share amounts)
Quarter ended Six months ended
June 30, June 30,
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1994 1993 1994 1993
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Primary
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Weighted average shares 34,192 31,144 33,817 30,300
Dilutive effect of:
Stock options 107 115 105 122
Warrants 34 48 42 75
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Weighted average number of shares and
equivalent shares outstanding 34,333 31,307 33,964 30,497
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Net income $19,008 $16,001 $36,713 $30,839
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Net income per share (A) $.55 $0.51 $1.08 $1.01
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<FN>
(A)This calculation is submitted in accordance with Regulation S-K item
601(b)(11) although not required by footnote 2 to paragraph 14 of
APB Opinion No. 15 because it results in dilution of less than 3%.
Fully Diluted
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Weighted average number of shares used
in primary calculation 34,333 31,307 33,964 30,497
Assumed conversion of debentures 7,673 5,722 7,165 5,305
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Fully diluted weighted average shares
and equivalent shares outstanding 42,006 37,029 41,129 35,802
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Net income $19,008 $16,001 $36,713 $30,839
Interest and debt amortization on assumed
conversion of debentures 5,056 3,193 9,315 5,882
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Adjusted net income for fully diluted calculation $24,064 $19,194 $46,028 $36,721
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Net income per share (B) $.57 $.052 $1.12 $1.03
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<FN>
(B) This calculation is submitted in accordance with Regulation S-K item
601(b)(11) although it is contrary to paragraph 40 of APB Opinion
No 15 because it produces anti-dilutive results.