HAMILTON, Bermuda (AP) — HAMILTON, Bermuda (AP) — Brookfield Infrastructure Partners LP (BIP) on Wednesday reported a key measure of profitability in its first quarter.
The real estate investment trust, based in Hamilton, Bermuda, said it had funds from operations of $615 million, or 78 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 $56 million, or 10 cents per share.
The operator of utility, transportation and energy assets, based in Hamilton, Bermuda, posted revenue of $5.19 billion in the period.
The company’s shares have dropped 15% since the beginning of the year. The stock has fallen 23% in the last 12 months.
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