ATLANTA (AP) _ Columbia Property Trust Inc. (CXP) on Thursday reported a key measure of profitability in its first quarter.
The Atlanta-based real estate investment trust said it had funds from operations of $44.4 million, or 38 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 $3.5 million, or 3 cents per share.
The real estate investment trust posted revenue of $75.4 million in the period.
Columbia expects full-year funds from operations in the range of $1.37 to $1.42 per share.
The company's shares have climbed 17 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $22.66, a rise of slightly more than 9 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CXP at https://www.zacks.com/ap/CXP