VIRGINIA BEACH, Va. (AP) — VIRGINIA BEACH, Va. (AP) — AH REALTY TRUST INC (AHRT) on Monday reported a key measure of profitability in its second quarter.
The Virginia Beach, Virginia-based real estate investment trust said it had funds from operations of $14.1 million, or 14 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 $24.2 million, or 25 cents per share.
The real estate company posted revenue of $52.5 million in the period.
AH REALTY TRUST expects full-year funds from operations in the range of 53 cents to 57 cents per share.
The company’s shares have risen nearly 5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $6.94, a climb of nearly 4% in the last 12 months.
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