Columbia: 3Q Earnings Snapshot
ATLANTA – ATLANTA (AP) _ Columbia Property Trust Inc. (CXP) on Thursday reported a key measure of profitability in its third quarter.
The real estate investment trust, based in Atlanta, said it had funds from operations of $46.7 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 $6.4 million, or 5 cents per share.
The real estate investment trust posted revenue of $73.3 million in the period.
Columbia expects full-year funds from operations in the range of $1.51 to $1.54 per share.
The company's shares have dropped roughly 4 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $22.07, a climb of slightly more than 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 CXP at https://www.zacks.com/ap/CXP