BOSTON (AP) — BOSTON (AP) — Plymouth Industrial REIT, Inc. (PLYM) on Wednesday reported a key measure of profitability in its third quarter. The results missed Wall Street expectations.
The real estate investment trust, based in Boston, said it had funds from operations of $20.1 million, or 44 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 48 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 $15.7 million, or 35 cents per share.
Plymouth Industrial, based in Boston, posted revenue of $51.9 million in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $49.7 million.
Plymouth Industrial expects full-year funds from operations in the range of $1.83 to $1.85 per share.
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