NEW YORK (AP) — NEW YORK (AP) — Paramount Group Inc. (PGRE) on Wednesday 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 $47.9 million, or 22 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 $9.9 million, or 5 cents per share.
The real estate investment trust that owns office buildings, based in New York, posted revenue of $188.9 million in the period.
Paramount Group expects full-year funds from operations in the range of 75 cents to 81 cents per share.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PGRE at https://www.zacks.com/ap/PGRE
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
