BOSTON (AP) — BOSTON (AP) — Plymouth Industrial REIT, Inc. (PLYM) on Thursday reported a key measure of profitability in its first quarter.
The Boston-based real estate investment trust said it had funds from operations of $20.1 million, or 44 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 $5.8 million, or 13 cents per share.
Plymouth Industrial, based in Boston, posted revenue of $45.6 million in the period.
Plymouth Industrial expects full-year funds from operations in the range of $1.85 to $1.89 per share.
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