NEW YORK (AP) — NEW YORK (AP) — Paramount Group Inc. (PGRE) 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 $37.9 million, or 17 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 $10 million, or 5 cents per share.
The real estate investment trust that owns office buildings, based in New York, posted revenue of $187 million in the period.
Paramount Group expects full-year funds from operations in the range of 51 cents to 57 cents per share.
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