Newz(KIM) on Tuesday reported a key measure of profitability in its second quarter. The results matched Wall Street expectations. The Jericho, New York-based real estate investment trust said it had funds from operations of $309.2 million, or 46 cents per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 46 cents per share. 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 $145.8 million, or 22 cents per share. The real estate investment trust, based in Jericho, New York, posted revenue of $550.8 million in the period, beating Street forecasts. Seven analysts surveyed by Zacks expected $545 million.
Kimco Realty expects full-year funds from operations to be $1.83 to $1.84 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 KIM at https://www.zacks.com/ap/KIM Source
(AP) — Chatham Lodging Trust (CLDT) on Tuesday reported a key measure of profitability in its second quarter. The West Palm Beach, Florida-based real estate investment trust said it had funds from operations of $23.6 million, or 48 cents per share, in the period. The company said it had net income of $6.2 million, or 13 cents per share.
The real estate investment trust, based in West Palm Beach, Florida, posted revenue of $87.8 million in the period. Chatham Lodging expects full-year funds from operations in the range of $1.28 to $1.34 per share. Access a Zacks stock report on CLDT at https://www.zacks.com/ap/CLDT Source
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