WYOMISSING, Pa. – WYOMISSING, Pa. (AP) _ Gaming and Leisure Properties Inc. (GLPI) on Wednesday reported a key measure of profitability in its first quarter.
The Wyomissing, Pennsylvania-based real estate investment trust said it had funds from operations of $169.7 million, or 79 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 $96.8 million, or 45 cents per share.
The real estate investment trust posted revenue of $244.1 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $251.3 million.
The company's shares have decreased slightly more than 7 percent since the beginning of the year. The stock has increased slightly in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on GLPI at https://www.zacks.com/ap/GLPI