Forest City: 3Q Earnings Snapshot

CLEVELAND (AP) _ Forest City Enterprises Inc. (FCE.A) on Tuesday reported a key measure of profitability in its third quarter.

The Cleveland-based real estate investment trust said it had funds from operations of $102.1 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.

The company said it had net income of $447.2 million, or $1.63 per share.

The developer of shopping malls, office buildings and apartment complexes, based in Cleveland, posted revenue of $218.2 million in the period.

The company's shares have increased 4.5 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $25.18, a rise of slightly more than 1 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 FCE.A at