NEW YORK (AP) — NEW YORK (AP) — Curbline Properties Corp. (CURB) on Thursday reported a key measure of profitability in its first quarter. The results matched Wall Street expectations.
The New York-based real estate investment trust said it had funds from operations of $25.1 million, or 24 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 24 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 net income of $10.6 million, or 10 cents per share.
The convenience store real estate investment trust, based in New York, posted revenue of $38.7 million in the period, exceeding Street forecasts. Four analysts surveyed by Zacks expected $36.7 million.
Curbline expects full-year funds from operations in the range of 99 cents to $1.02 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CURB at https://www.zacks.com/ap/CURB
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