WASHINGTON (AP) — WASHINGTON (AP) — Easterly Government Properties Inc. (DEA) on Monday reported a key measure of profitability in its first quarter.
The Washington-based real estate investment trust said it had funds from operations of $37.1 million, or 77 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 $1.4 million, or 3 cents per share.
The property management company, based in Washington, posted revenue of $91.5 million in the period.
Easterly Government Properties expects full-year funds from operations in the range of $3.06 to $3.12 per share.
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