NewzATLANTA (AP) — ATLANTA (AP) — Piedmont Realty Trust, Inc. (PDM) on Monday reported a key measure of profitability in its third quarter. The Atlanta-based real estate investment trust said it had funds from operations of $50.1 million, or 39 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 $21 million, or 17 cents per share.
The commercial real estate investment trust, based in Atlanta, posted revenue of $151.2 million in the period. Piedmont Realty Trust expects full-year funds from operations in the range of $1.55 to $1.57 per share. _____ This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research.
Access a Zacks stock report on PDM at https://www.zacks.com/ap/PDM Source (AP) — Alexandria Real Estate Equities Inc. (ARE) on Monday reported a key measure of profitability in its third quarter.
The results exceeded Wall Street expectations. The Pasadena, California-based real estate investment trust said it had funds from operations of $264.4 million, or $1.54 per share, in the period. The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of $1.52 per share.
The company said it had a loss of $638.5 million, or $3.74 per share. The life science real estate company posted revenue of $671.2 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $644.2 million.
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