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