NEW YORK (AP) — NEW YORK (AP) — Global Net Lease Inc. (GNL) on Wednesday reported a key measure of profitability in its fourth quarter.
The New York-based real estate investment trust said it had funds from operations of $66.2 million, or 29 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 $37.2 million, or 16 cents per share.
The real estate investment trust, based in New York, posted revenue of $117 million in the period.
For the year, the company reported funds from operations of $221 million. Revenue was reported as $495.3 million.
Global Net Lease expects full-year funds from operations in the range of 80 cents to 84 cents per share.
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