NEW YORK (AP) — 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 $43.9 million, or 21 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 a loss of $16 million, or 8 cents per share.
The real estate investment trust, based in New York, posted revenue of $109.3 million in the period.
Global Net Lease expects full-year funds from operations in the range of 80 cents to 84 cents per share.
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