WAKEFIELD, Mass. (AP) — WAKEFIELD, Mass. (AP) — Franklin Street Properties Corp. (FSP) on Tuesday reported a key measure of profitability in its third quarter.
The Wakefield, Massachusetts-based real estate investment trust said it had funds from operations of $2.7 million, or 3 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 $15.6 million, or 15 cents per share.
The hybrid real estate investment trust, based in Wakefield, Massachusetts, posted revenue of $29.7 million in the period.
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