DALLAS – DALLAS (AP) _ Tier Reit Inc. (TIER) on Tuesday reported a key measure of profitability in its first quarter.
The real estate investment trust, based in Dallas, said it had funds from operations of $19.5 million, or 40 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 $8.4 million, or 17 cents per share.
The real estate investment trust posted revenue of $54.1 million in the period.
Tier Reit expects full-year funds from operations in the range of $1.49 to $1.54 per share.
The company's shares have fallen roughly 4 percent since the beginning of the year. The stock has risen 18 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 TIER at https://www.zacks.com/ap/TIER
The hottest stories ripped from the headlines, from crime to courts, legal and scandal.
