NEW YORK (AP) — NEW YORK (AP) — Getty Realty Corp. (GTY) on Wednesday reported a key measure of profitability in its first quarter.
The New York-based real estate investment trust said it had funds from operations of $33.8 million, or 59 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 $14.8 million, or 25 cents per share.
The real estate investment trust, based in New York, posted revenue of $52.3 million in the period. Its adjusted revenue was $51.7 million.
Getty Realty expects full-year funds from operations in the range of $2.38 to $2.41 per share.
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