PHILADELPHIA (AP) — PHILADELPHIA (AP) — Brandywine Realty Trust (BDN) on Tuesday reported a key measure of profitability in its first quarter.
The Philadelphia-based real estate investment trust said it had funds from operations of $24.7 million, or 14 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 $27.4 million, or 16 cents per share.
The real estate investment trust posted revenue of $121.5 million in the period.
Brandywine Realty Trust expects full-year funds from operations in the range of 61 cents to 71 cents per share.
In the final minutes of trading on Tuesday, the company’s shares hit $3.89. A year ago, they were trading at $4.45.
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