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.
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