NEW YORK (AP) — NEW YORK (AP) — W.P. Carey Inc. (WPC) on Tuesday reported a key measure of profitability in its third quarter.
The New York-based real estate investment trust said it had funds from operations of $259.3 million, or $1.18 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 $111.7 million, or 51 cents per share.
The real estate investment trust, based in New York, posted revenue of $397.4 million in the period.
W.P. Carey expects full-year funds from operations in the range of $4.65 to $4.71 per share.
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