BOSTON (AP) — BOSTON (AP) — Plymouth Industrial REIT, Inc. (PLYM) on Thursday reported a key measure of profitability in its first quarter. The results matched Wall Street expectations.
The Boston-based real estate investment trust said it had funds from operations of $19.6 million, or 45 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 45 cents per share.
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 $4.3 million, or 10 cents per share.
Plymouth Industrial, based in Boston, posted revenue of $49.4 million in the period, which beat Street forecasts. Four analysts surveyed by Zacks expected $47.3 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PLYM at https://www.zacks.com/ap/PLYM
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