Vereit: 2Q Earnings Snapshot
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PHOENIX (AP) _ Vereit Inc. (VER) on Friday reported a key measure of profitability in its second quarter. The results matched Wall Street expectations.
The Phoenix-based real estate investment trust said it had funds from operations of $178.8 million, or 18 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 18 cents per share.
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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 a loss of $72.7 million, or 9 cents per share.
The real estate investment trust posted revenue of $315.7 million in the period. Its adjusted revenue was $290.6 million.
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Vereit expects full-year funds from operations in the range of 70 cents to 72 cents per share.
The company's shares have declined 1 percent since the beginning of the year. The stock has fallen nearly 8 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 VER at https://www.zacks.com/ap/VER