NEW YORK – NEW YORK (AP) _ W.P. Carey Inc. (WPC) on Friday reported a key measure of profitability in its third quarter.
The real estate investment trust, based in New York, said it had funds from operations of $159.8 million, or $1.48 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 $77.3 million, or 71 cents per share.
The real estate investment trust posted revenue of $179.3 million in the period.
W.P. Carey expects full-year funds from operations in the range of $5.34 to $5.44 per share.
The company's shares have decreased roughly 6 percent since the beginning of the year. The stock has dropped nearly 5 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 WPC at https://www.zacks.com/ap/WPC