NEW YORK – NEW YORK (AP) _ Global Net Lease Inc. (GNL) on Tuesday reported a key measure of profitability in its first quarter.
The New York-based real estate investment trust said it had funds from operations of $33.1 million, or 49 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 $2.4 million, or 3 cents per share.
The real estate investment trust posted revenue of $68.1 million in the period.
The company's shares have declined 6 percent since the beginning of the year. The stock has fallen 15 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 GNL at https://www.zacks.com/ap/GNL
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