PHILADELPHIA (AP) — PHILADELPHIA (AP) — Brandywine Realty Trust (BDN) on Wednesday reported a key measure of profitability in its first quarter.
The real estate investment trust, based in Philadelphia, said it had funds from operations of $20 million, or 11 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 $48.9 million, or 28 cents per share.
The real estate investment trust posted revenue of $127 million in the period.
Brandywine Realty Trust expects full-year funds from operations to be 52 cents to 58 cents per share.
In the final minutes of trading on Wednesday, the company’s shares hit $2.92. A year ago, they were trading at $3.89.
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