ROCKVILLE, Md. (AP) _ Federal Realty Investment Trust (FRT) on Thursday reported a key measure of profitability in its third quarter. The results surpassed Wall Street expectations.
The real estate investment trust, based in Rockville, Maryland, said it had funds from operations of $85 million, or $1.12 per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $1.10 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 a loss of $30.3 million, or 41 cents per share.
The real estate investment trust posted revenue of $208.2 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $206.3 million.
The company's shares have declined 44% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $72.22, a drop of 46% in the last 12 months.
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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 FRT at https://www.zacks.com/ap/FRT