HAMILTON, Bermuda (AP) — HAMILTON, Bermuda (AP) — Brookfield Infrastructure Partners LP (BIP) on Wednesday reported a key measure of profitability in its first quarter.
The Hamilton, Bermuda-based real estate investment trust said it had funds from operations of $646 million, or 82 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 $26 million, or 4 cents per share.
The operator of utility, transportation and energy assets, based in Hamilton, Bermuda, posted revenue of $5.39 billion in the period.
The company’s shares have decreased slightly more than 7% since the beginning of the year. The stock has climbed almost 9% in the last 12 months.
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