JERICHO, N.Y. – JERICHO, N.Y. (AP) _ Getty Realty Corp. (GTY) on Wednesday reported a key measure of profitability in its third quarter.
The real estate investment trust, based in Jericho, New York, said it had funds from operations of $17.9 million, or 44 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 $10.9 million, or 27 cents per share.
The real estate investment trust posted revenue of $34.7 million in the period. Its adjusted revenue was $29.6 million.
Getty Realty expects full-year funds from operations in the range of $1.70 to $1.74 per share.
The company's shares have decreased roughly 1 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $26.99, a fall of 7 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 GTY at https://www.zacks.com/ap/GTY