HOUSTON – HOUSTON (AP) _ Whitestone Reit (WSR) on Monday reported a key measure of profitability in its first quarter.
The Houston-based real estate investment trust said it had funds from operations of $12.6 million, or 31 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 $3 million, or 8 cents per share.
The real estate investment trust posted revenue of $33.6 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $33.7 million.
Whitestone expects full-year funds from operations in the range of $1.19 to $1.24 per share.
The company's shares have decreased 22 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $11.27, a drop of 5 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on WSR at https://www.zacks.com/ap/WSR