CLEVELAND – 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 https://www.zacks.com/ap/FCE.A