Columbia: 1Q Earnings Snapshot
{{#rendered}} {{/rendered}}ATLANTA (AP) _ Columbia Property Trust Inc. (CXP) on Thursday reported a key measure of profitability in its first quarter.
The real estate investment trust, based in Atlanta, said it had funds from operations of $45 million, or 38 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.
{{#rendered}} {{/rendered}}The company said it had net income of $1.5 million, or 1 cent per share.
The real estate investment trust posted revenue of $73.7 million in the period.
Columbia expects full-year funds from operations in the range of $1.43 to $1.48 per share.
{{#rendered}} {{/rendered}}The company's shares have dropped slightly more than 8 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $21.04, a fall of nearly 7 percent in the last 12 months.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on CXP at https://www.zacks.com/ap/CXP